BIO-RAD LABORATORIES, INC., 10-K filed on 2/11/2022
Annual Report
v3.22.0.1
Document and Entity Information - USD ($)
 12 Months Ended
Dec. 31, 2021
Feb. 09, 2022
Jun. 30, 2021
Entity Registrant Name BIO-RAD LABORATORIES, INC.    
Document Type 10-K    
Amendment Flag false    
Entity Central Index Key 0000012208    
Current Fiscal Year End Date --12-31    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Entity Small Business false    
Entity Shell Company false    
Entity Filer Category Large Accelerated Filer    
Entity Current Reporting Status Yes    
Entity Voluntary Filers No    
Entity Well-known Seasoned Issuer Yes    
Document Fiscal Year Focus 2021    
Document Fiscal Period Focus FY    
Document Annual Report true    
Document Period End Date Dec. 31, 2021    
Document Transition Report false    
Entity File Number 1-7928    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 94-1381833    
Entity Address, Address Line One 1000 Alfred Nobel Drive,    
Entity Address, City or Town Hercules,    
Entity Address, State or Province CA    
Entity Address, Postal Zip Code 94547    
City Area Code (510)    
Local Phone Number 724-7000    
Entity Interactive Data Current Yes    
Common Class A [Member]      
Entity Public Float     $ 13,641,153,999
Title of 12(b) Security Class A Common Stock Par Value $0.0001 per share    
Trading Symbol BIO    
Security Exchange Name NYSE    
Common Class A [Member] | Subsequent Event [Member]      
Entity Common Stock, Shares Outstanding   24,860,701  
Common Class B [Member]      
Entity Public Float     $ 106,611,955
Title of 12(b) Security Class B Common Stock Par Value $0.0001 per share    
Trading Symbol BIOb    
Security Exchange Name NYSE    
Common Class B [Member] | Subsequent Event [Member]      
Entity Common Stock, Shares Outstanding   5,071,736  
v3.22.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
ASSETS:    
Cash and cash equivalents $ 470,783 $ 662,205
Short-term investments 399,135 328,913
Restricted investments 5,560 5,560
Accounts receivable, less allowance for doubtful accounts 423,537 419,424
Inventories:    
Raw materials 116,880 126,911
Work in process 142,742 151,931
Finished goods 312,617 343,411
Total inventories 572,239 622,253
Prepaid expenses 107,745 90,621
Other current assets 10,089 10,859
Total current assets 1,989,088 2,139,835
Property, plant and equipment:    
Land and improvements 27,940 25,739
Buildings and leasehold improvements 385,798 363,048
Equipment 1,074,830 1,063,974
Total property, plant and equipment 1,488,568 1,452,761
Less: accumulated depreciation and amortization (997,616) (961,390)
Property, plant and equipment, net 490,952 491,371
Operating Lease, Right-of-Use Asset 204,798 202,136
Goodwill 347,343 291,916
Intangible Assets, Net (Excluding Goodwill) 253,939 199,497
Other investments 14,387,006 9,561,140
Other assets 102,669 86,723
Total assets 17,775,795 12,972,618
LIABILITIES AND STOCKHOLDERS' EQUITY:    
Accounts payable 141,941 139,451
Accrued payroll and employee benefits 276,986 222,875
Current maturities of long-term debt 489 1,798
Income taxes payable 10,319 23,282
Accrual for Taxes Other than Income Taxes, Current 35,980 34,053
Current operating lease liabilities 36,435 36,507
Deferred revenue 50,852 42,468
Other current liabilities 127,936 131,102
Total current liabilities 680,938 631,536
Long-term debt, net of current maturities 10,514 12,258
Deferred Income Tax Liabilities, Net 3,059,080 2,076,785
Operating lease liabilities 175,938 175,128
Other long-term liabilities 182,191 196,971
Total liabilities 4,108,661 3,092,678
Commitments and contingent liabilities
Stockholders' equity:    
Preferred stock 0 0
Additional paid-in capital 441,733 429,376
Retained earnings 13,507,241 9,268,012
Accumulated other comprehensive (loss) income (175,553) 282,456
Stockholders' Equity Attributable to Parent 13,667,134 9,879,940
Total liabilities and stockholders' equity 17,775,795 12,972,618
Common Class A [Member]    
Stockholders' equity:    
Common stock 2 2
Common Class B [Member]    
Stockholders' equity:    
Common stock 1 1
Treasury Class-A [Member]    
Stockholders' equity:    
Treasury Stock, Value $ (106,290) $ (99,907)
v3.22.0.1
Consolidated Balance Sheets (Parentheticals) - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Accounts Receivable, Allowance for Credit Loss $ 15,142 $ 19,807
Preferred stock outstanding 0 0
Preferred stock authorized 7,500,000 7,500,000
Preferred stock par value $ 0.0001 $ 0.0001
Common Class A [Member]    
Common stock issued 25,133,530 25,072,619
Common stock outstanding 24,853,986 24,767,870
Common stock par value $ 0.0001 $ 0.0001
Common stock authorized 80,000,000 80,000,000
Common Class B [Member]    
Common stock issued 5,078,452 5,076,186
Common stock outstanding 5,078,452 5,076,186
Common stock par value $ 0.0001 $ 0.0001
Common stock authorized 20,000,000 20,000,000
Treasury Class-A [Member]    
Treasury Stock, Shares 279,544 304,749
v3.22.0.1
Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2021
Sep. 30, 2021
Jun. 30, 2021
Mar. 31, 2021
Dec. 31, 2020
Sep. 30, 2020
Jun. 30, 2020
Mar. 31, 2020
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Income Statement [Abstract]                      
Net sales $ 732,800 $ 747,000 $ 715,900 $ 726,800 $ 789,800 $ 647,300 $ 536,900 $ 571,600 $ 2,922,545 $ 2,545,626 $ 2,311,659
Cost of Goods and Services Sold                 1,281,884 1,107,804 1,054,663
Gross Profit 401,000 437,400 401,600 400,600 460,100 367,300 293,000 317,400 1,640,661 1,437,822 1,256,996
Selling, general and administrative expense                 879,574 800,267 824,625
Research and development expense                 271,657 226,598 202,710
Income from operations                 489,430 410,957 229,661
Interest expense                 1,551 21,861 23,416
Foreign exchange losses, net                 2,753 1,771 2,245
Debt and Equity Securities, Unrealized Gain (Loss) (10,800)               (4,926,248) (4,495,825) (2,030,987)
Other (income) expense, net                 (26,775) (24,488) (26,094)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest                 5,438,149 4,907,638 2,261,081
Income Tax Expense (Benefit)                 (1,192,247) (1,101,371) (502,406)
Net Income (Loss) Attributable to Parent $ (1,573,700) $ 3,928,000 $ 914,100 $ 977,400 $ 839,200 $ 1,314,800 $ 966,400 $ 685,900 $ 4,245,902 $ 3,806,267 $ 1,758,675
Basic earnings per share:                      
Earnings Per Share, Basic $ (52.59) $ 131.75 $ 30.71 $ 32.77 $ 28.13 $ 44.24 $ 32.59 $ 22.97 $ 142.33 $ 127.86 $ 58.93
Weighted average common shares - basic                 29,831 29,768 29,843
Diluted earnings per share:                      
Earnings Per Share, Diluted $ (52.59) $ 129.96 $ 30.32 $ 32.38 $ 27.81 $ 43.64 $ 32.15 $ 22.72 $ 140.56 $ 126.20 $ 58.27
Weighted average common shares - diluted                 30,208 30,160 30,184
v3.22.0.1
Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Net Income (Loss) Attributable to Parent $ 4,245,902 $ 3,806,267 $ 1,758,675
Foreign currency translation adjustments (469,088) 371,057 (36,953)
Other post-employment benefits adjustments, net of tax 15,099 (3,806) (7,363)
Net unrealized holding gains on available-for-sale investments, net of tax (4,020) 2,553 3,926
Other comprehensive income, net of tax (458,009) 369,804 (40,390)
Comprehensive income attributable to Bio-Rad $ 3,787,893 $ 4,176,071 $ 1,718,285
v3.22.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Cash received from customers $ 2,886,489 $ 2,531,135 $ 2,311,925
Cash paid to suppliers and employees (2,140,882) (1,886,988) (1,818,575)
Interest paid, net (2,251) (21,639) (22,330)
Income tax payments, net (134,683) (65,244) (45,081)
Investment proceeds and miscellaneous receipts, net 35,282 21,488 31,673
(Payments for) proceeds from foreign exchange contracts, net 12,566 (3,424) 285
Net cash provided by operating activities 656,521 575,328 457,897
Cash flows from investing activities:      
Capital expenditures (120,803) (98,920) (98,532)
Proceeds from dispositions of property, plant and equipment 52 70 129
Proceeds from Divestiture of a Division 0 12,240 0
Payments for Previous Acquisition (125,516) (96,655) (79,386)
Recovery of (payments for) purchases of intangible assets 0 3,414 8,818
Payments for purchases of marketable securities and investments (851,627) (248,457) (371,450)
Payments for Loans 453,440 0 0
Proceeds from Sale of Debt Securities, Available-for-sale 425,537 89,734 104,632
Proceeds from maturities of marketable securities and investments 341,359 278,324 226,900
Net cash used in investing activities (784,438) (60,250) (208,889)
Cash flows from financing activities:      
Payments on long-term borrowings (3,020) (426,938) (643)
Payments for credit agreement renewal fees 0 0 (486)
Proceeds from issuance of common shares for share-based compensation 20,632 20,198 13,113
Tax payments from net share settlement (22,482) (12,930) (8,096)
Proceeds from Reissuance of Treasury Stock 0 0 3,831
Payments for purchases of treasury stock (49,998) (100,004) (28,000)
Payments of contingent consideration (561) (3,367) (2,477)
Net cash used in financing activities (55,429) (523,041) (22,758)
Effect of foreign exchange rate changes on cash (12,636) 12,427 2,237
Net increase in cash, cash equivalents and restricted cash (195,982) 4,464 228,487
Beginning Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 667,115 662,651 434,164
Cash and cash equivalents 470,783 662,205 660,672
Restricted Cash included in Other current assets 14 3,994 93
Restricted Cash included in Other assets 336 916 1,886
Ending Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents $ 471,133 $ 667,115 $ 662,651
v3.22.0.1
Consolidated Statements of Changes in Stockholders' Equity - USD ($)
$ in Thousands
Total
Common Stock [Member]
Additional Paid-in Capital [Member]
Treasury Stock [Member]
Retained Earnings [Member]
AOCI Attributable to Parent [Member]
Balance at Dec. 31, 2018 $ 4,020,331 $ 3 $ 394,342 $ (49,129) $ 3,722,073 $ (46,958)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 1,758,675 0 0 0 1,758,675 0
Other comprehensive income, net of tax (40,390) 0 0 0 0 (40,390)
Issuance of common stock 5,017 0 5,017 0 0 0
Stock compensation expense 35,593 0 35,593 0 0 0
Treasury Stock, Value, Acquired, Cost Method (28,000) 0 0 (28,000) 0 0
Balance at Dec. 31, 2019 5,755,057 3 410,020 (38,397) 5,470,779 (87,348)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 3,806,267 0 0 0 3,806,267 0
Other comprehensive income, net of tax 369,804 0 0 0 0 369,804
Issuance of common stock 7,268 0 7,268 0 0 0
Stock compensation expense 41,556 0 41,556 0 0 0
Treasury Stock, Value, Acquired, Cost Method (100,004) 0 0 (100,004) 0 0
Stock Issued During Period, Value, Treasury Stock Reissued 8   (29,468) (38,494) (9,034) 0
Balance at Dec. 31, 2020 9,879,940 3 429,376 (99,907) 9,268,012 282,456
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 4,245,902 0 0 0 4,245,902 0
Other comprehensive income, net of tax (458,009) 0 0 0 0 (458,009)
Issuance of common stock (1,850) 0 (1,850) 0 0 0
Stock compensation expense 51,160 0 51,160 0 0 0
Treasury Stock, Value, Acquired, Cost Method (49,998) 0 0 (49,998) 0 0
Stock Issued During Period, Value, Treasury Stock Reissued (11) 0 (36,953) (43,615) (6,673) 0
Balance at Dec. 31, 2021 $ 13,667,134 $ 3 $ 441,733 $ (106,290) $ 13,507,241 $ (175,553)
v3.22.0.1
1. Significant Accounting Policies
 12 Months Ended
Dec. 31, 2021
Accounting Policies [Abstract]  
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation

The consolidated financial statements include the accounts of Bio-Rad Laboratories, Inc. and all of our wholly and majority owned subsidiaries (referred to in this report as “Bio-Rad,” “we,” “us” and “our”) after elimination of intercompany balances and transactions.  The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes.  Actual results could differ from those estimates.

Variable Interest Entities

We enter into relationships with or make investments in other entities that may be variable interest entities ("VIE"). A VIE is consolidated in the financial statements if we are the primary beneficiary. The primary beneficiary has the power to direct activities that most significantly impact the economic performance of the VIE and has the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE.

In 2021, we extended a loan to a VIE, Sartorius-Herbst Beteiligungen II GmbH ("SHB"), a private limited company incorporated under the laws of Germany (See Note 3). We have not consolidated this entity because we do not have the power to direct the activities that most significantly impact the VIE’s economic performance related to repayment of the loan or cash management of the SHB and, thus, we are not considered the primary beneficiary of the VIE. We believe that our maximum exposure to loss as a result of our involvement with the VIE is limited to the receivable due to us from the VIE under the terms of the loan.

Cash and Cash Equivalents

Cash and cash equivalents consist of cash and highly liquid investments with original maturities of three months or less which are readily convertible into cash. 

Short-term Restricted Investments

Short-term restricted investments of $5.6 million at both December 31, 2021 and 2020 represent a money market fund that is provided as collateral to secure worker's compensation and general liability insurance.

Available-for-Sale Investments

Available-for-sale investments consist of corporate obligations, municipal securities, asset backed securities and U.S. government sponsored agencies. Management classifies investments at the time of purchase and reevaluates such classification at each balance sheet date. Investments with maturities beyond one year may be classified as short-term based on their liquid nature and because such marketable securities represent the investment of cash that is available for current operations. Available-for-sale investments are reported at fair value based on quoted market prices and other observable market data. Unrealized gains and losses are reported as a component of other comprehensive income, net of any related tax effect. On January 1, 2020, we adopted Accounting Standards Update (ASU) 2016-13, "Measurement of Credit Losses on Financial Instruments." In accordance with the adopted guidance, we replaced the incurred loss approach with an expected loss model for instruments measured at amortized cost and record allowances for available-for-sale debt securities rather than to reduce the carrying amount for other-than-temporary impairment as was followed under the other-than-temporary impairment model prior to January 1, 2020. Realized gains and losses and other-than-temporary impairments on investments are included in Other income and expense, net (see Note 10).
Concentration of Credit Risk

Financial instruments that potentially subject us to concentration of credit risk consist primarily of cash and cash equivalents, investments, foreign exchange contracts, trade accounts receivable and loans receivable.  Cash and cash equivalents and investments are placed with various highly rated major financial institutions located in different geographic regions.

The forward contracts used in managing our foreign currency exposures have an element of risk in that the counterparties may be unable to meet the terms of the agreements.  We attempt to minimize this risk by limiting the counterparties to a diverse group of highly-rated domestic and international financial institutions.  In the event of non-performance by these counterparties, the carrying values of our financial instruments represent the maximum amount of loss we would have incurred as of our fiscal year-end.  

Credit risk for trade accounts receivable is generally limited due to the large number of customers and their dispersion across many geographic areas. We manage our accounts receivable credit risk through ongoing credit evaluation of our customers' financial conditions. We generally do not require collateral from our customers.

Loans receivable represent the Loan extended to SHB and is collateralized by the pledge of certain trust interests under the Sartorius family trust ("Trust"), which upon termination of the Trust represent the right to receive Sartorius ordinary shares. The collateral is subject to market volatility based on fluctuation in value of the Sartorius ordinary shares.

Accounts Receivable and Allowance for Doubtful Accounts

We record trade accounts receivable at the net invoice value and such receivables are non-interest bearing. We consider receivables past due based on the contractual payment terms. Amounts later determined and specifically identified to be uncollectible are charged or written off against the allowance for doubtful accounts.

Any adjustments made to our historical loss experience reflect current differences in asset-specific risk characteristics, including, for example, accounts receivable by customer type (public or government entity versus private entity) and by geographic location of the customer.

Changes in our allowance for doubtful accounts were as follows (in millions):
December 31,202120202019
Beginning balance$19.8 $20.2 $26.7 
Provision for expected credit losses (2021, 2020), bad debt (reversal) (2019)1.41.2 (1.2)
Write-offs charged against the allowance(6.4)(1.6)(6.6)
Recoveries collected0.3 — 1.3 
Ending balance$15.1 $19.8 $20.2 

Inventory

Inventories are valued at the lower of cost and net realizable value and include material, labor and overhead costs. Cost is determined using standard costs, which approximate actual costs, and are relieved from inventory on a first-in, first-out or average cost basis. We classify our inventories based on our historical and anticipated levels of sales; any inventory in excess of its normal operating cycle (1 – 3 years depending on our product line) is classified as long-term on our consolidated balance sheets. The long-term inventory was immaterial as of December 31, 2021 and 2020.
Property, Plant and Equipment

Property, plant and equipment are stated at cost, less accumulated depreciation and amortization.  Additions and improvements are capitalized, and maintenance and repairs are expensed as incurred. Included in property, plant and equipment are buildings and equipment acquired under capital lease arrangements, reagent rental equipment and capitalized software, including costs for software developed or obtained for internal use.

Depreciation is computed on a straight-line basis over the estimated useful lives of the assets.  The estimated useful lives of property, plant and equipment are generally as follows: buildings, 10-50 years; leasehold improvements, the life of the improvements or the term of the lease, whichever is shorter; reagent rental equipment, 1-5 years; equipment, 3-12 years; and computer software, 3-5 years.

When property and equipment is retired or otherwise disposed of, the cost and accumulated depreciation are relieved from the accounts and the net gain or loss is included in operating expenses.

Leases

We determine if an arrangement is a lease at inception. Operating leases are included in Operating lease right-of-use (“ROU”) assets, Current operating lease liabilities, and Operating lease liabilities in our Consolidated Balance Sheets. Finance leases are included in Property, plant and equipment, Current maturities of long-term debt, and Long-term debt, net of current maturities in our Consolidated Balance Sheets.

ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. As our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. Operating lease ROU assets also include any lease payments made and excludes lease incentives. Our lease terms may include options to extend or terminate the lease. For purposes of determining the lease term used in the measurement of operating lease ROU assets and operating lease liabilities, we include the noncancellable period of the lease together with those periods covered by the option to extend the lease if we are reasonably certain to exercise that option, the periods covered by an option to terminate the lease if we are reasonably certain not to exercise that option, and the periods covered by the option to extend (or to not terminate) the lease in which exercise of the option is controlled by the lessor. Lease expense is recognized on a straight-line basis over the lease term. Where we act as lessee, we elected not to separate lease and non-lease components.

For our reagent rental contracts, which are classified as operating leases and we act as a lessor, are more fully described below under the caption "Reagent Rental Agreements."

Intangible Assets

Our intangible assets principally include goodwill, acquired technology / know how, license, tradenames, customer relationships, and in-process research and development. Intangible assets with finite lives, which include acquired technology / know how, tradenames, licenses and customer relationships, are carried at cost and amortized using the straight-line method over their estimated useful lives.
The estimated useful lives used in computing amortization of intangible assets are as follows:

Customer relationships/lists 4 – 16 years
Know how 14 years
Developed product technology 2 – 20 years
Licenses 12 – 13 years
Tradenames 6 – 15 years
Covenants not to compete 3 – 10 years

Intangible assets with indefinite lives, which include only goodwill and in-process research and development assets, are recorded at cost and evaluated at least annually for impairment.

Impairment of Long-Lived Assets

We review long-lived assets, such as property, plant and equipment and finite-lived intangible assets, for impairment whenever events indicate that the carrying amounts might not be recoverable. Recoverability of property, plant and equipment, and other finite-lived intangible asset is measured by comparing the projected undiscounted net cash flows associated with those assets to their carrying values. If an asset is considered impaired, it is written down to its fair value, which is determined based on the asset's projected discounted cash flows or appraised value, depending on the nature of the asset. For purposes of recognition of impairment for assets held for use, we group assets and liabilities at the lowest level for which cash flows are separately identifiable.

There were no impairments of finite-lived intangible assets for the years ended December 31, 2021, 2020 and 2019.

Impairment of Goodwill

Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in each business combination. We conduct an impairment analysis for goodwill annually in the fourth quarter or more frequently if indicators of impairment exist or if a decision is made to sell or exit a business. Significant judgments are involved in determining if an indicator of impairment has occurred. Such indicators may include deterioration in general economic conditions, negative developments in equity and credit markets, adverse changes in the markets in which an entity operates, increases in input costs that have a negative effect on earnings and cash flows, or a trend of negative or declining cash flows over multiple periods, among others. The fair value that could be realized in an actual transaction may differ from that used to evaluate the impairment of goodwill.

We first may assess qualitative factors to determine if it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the quantitative goodwill impairment test included in U.S. GAAP. To the extent our assessment identifies adverse conditions, or if we elect to bypass the qualitative assessment, goodwill is tested at the reporting unit level using a quantitative impairment test.

In conjunction with our annual impairment assessment for 2021, we reassessed the reporting units based on changes resulting from internal reorganization and alignment, restructuring activities and changes in reporting structures. After our evaluation, we concluded on two reporting units, which are the operating segments, Life Science and Clinical Diagnostics. We elected to perform a qualitative assessment of goodwill and determined that it is not more likely than not that the fair values of our reporting units are less than their carrying amounts and that goodwill is not impaired for any of our reporting units.
Impairment of Indefinite-Lived Intangible Assets

For indefinite-lived intangible assets such as in-process research and development, we conduct an impairment analysis annually in the fourth quarter or more frequently if indicators of impairment exist. We first perform a qualitative assessment to determine if it is more likely than not that the carrying amount of each of the in-process research and development assets exceeds its fair value. The qualitative assessment requires the consideration of factors such as recent market transactions, macroeconomic conditions, and changes in projected future cash flows. If we determine it is more likely than not that the fair value is less than its carrying amount of the in-process research and development assets, a quantitative assessment is performed. The quantitative assessment compares the fair value of the in-process research and development assets to its carrying amount. If the carrying amount exceeds its fair value, an impairment loss is recognized for the excess. We elected to perform a qualitative assessment of indefinite-lived intangible assets and determined that it is not more likely than not that the fair value is less than its carrying amount and that in-process research and development are not impaired.
 
Income Taxes
We account for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities reflect the tax effects of net operating losses, tax credits, and temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. They are determined using enacted tax rates in effect for the year in which such temporary differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date.

We record deferred tax assets to the extent we believe these assets will more likely than not be realized. In making such determination, we consider all available positive and negative evidence, including scheduled reversals of deferred tax liabilities, projected future taxable income, tax planning strategies and recent financial operations. When we establish or reduce the valuation allowance against our deferred tax assets, our provision for income taxes will increase or decrease, respectively, in the period that determination to change the valuation allowance is made.

We recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities based on the technical merits of the position. The tax benefits recognized in the financial statements on a particular tax position are measured based on the largest benefit that has a greater than a 50% likelihood of being realized upon settlement. The amount of unrecognized tax benefits is adjusted as appropriate for changes in facts and circumstances, such as significant amendments to existing tax law, new regulations or interpretations by the taxing authorities, new information obtained during a tax examination, or resolution of an examination. We recognize both accrued interest and penalties, where appropriate, related to unrecognized tax benefits in the provision for income taxes.

Revenue Recognition

We recognize revenue from operations through the sale of products, services, license of intellectual property and rental of instruments. Revenue from contracts with customers is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration we expect to receive in exchange for those products or services. We enter into contracts that can include various combinations of products and services, which are generally accounted for as distinct performance obligations. Revenue is recognized net of any taxes collected from customers (sales tax, value added tax, etc.), which are subsequently remitted to government authorities.
Our contracts from customers often include promises to transfer multiple products and services to a customer. Determining whether products and services are considered distinct performance obligations that should be accounted for separately versus together may require significant judgment, and may or may not impact the timing of revenue recognition. Revenue associated with equipment that requires factory installation is not recognized until installation is complete and customer acceptance, if required, has occurred. Certain equipment requires installation due to the fact that the instruments are being operated in a clinical/laboratory environment, and the installation services could result in modification of the equipment in order to ensure that the instruments are working according to customer specifications, which are subject to validation tests upon completion of the installation. In these arrangements, which require factory installation, the delivery of the equipment and the installation are separate performance obligations. We will recognize the transaction price allocated to the equipment only upon customer acceptance, as the transfer of control in relation to the equipment has occurred at that point as the customer has the ability to direct the use of and obtain substantially all of the remaining benefits from the asset. The transaction price allocated to the installation services is also recognized upon customer acceptance because without the completion of the installation services and related customer acceptance the customer cannot receive any of the benefits of the service.

At the time revenue is recognized, a provision is recorded for estimated product returns as this right is considered variable consideration. Accordingly, when product revenues are recognized, the transaction price is reduced by the estimated amount of product returns.

Service revenues on extended warranty contracts are recognized ratably over the life of the service agreement as a stand-ready performance obligation. For arrangements that include a combination of products and services, the transaction price is allocated to each performance obligation based on stand-alone selling prices. The method used to determine the stand-alone selling prices for product and service revenues is based on the observable prices when the product or services have been sold separately.

We recognize revenues for a functional license of intellectual property at a point in time when the control of the license and technology transfers to the customer. For license agreements that include sales or usage-based royalty payments to us, we recognize revenue at the later of (i) when the related sale of the product occurs, or (ii) when the performance obligation to which some or all of the royalty has been allocated has been satisfied, or partially satisfied.

The primary purpose of our invoicing terms is to provide customers with simple and predictable methods of purchasing our products and services, not to either provide or receive financing to or from our customers. We record contract liabilities when cash payments are received or due in advance of our performance.

We do not disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less. Our payment terms vary by the type and location of our customer, and the products and services offered. The term between invoicing and when payment is due is not significant.

In the third quarter of fiscal year 2021, we received approximately $32.5 million related to a settlement of an intellectual property litigation for sales of products infringing on our patents during the period from November 2018 through July 2021. Of the total amount, we recognized $31.6 million as revenue, based on the estimated stand-alone royalty rate associated with the infringed patents and is included as part of Net sales in our consolidated statements of income.

In the fourth quarter of fiscal year 2020, we received $35.3 million in court awarded damages related to an intellectual property litigation for sales of products infringing on our patents during 2015 to 2018. Of the total amount, we recognized $32.3 million as revenue upon receipt of the damages based on the estimated stand-alone royalty rate associated with the infringed patents and is included as part of Net sales in our consolidated statements of income.
Reagent Rental Agreements
Reagent rental agreements are primarily a diagnostic industry sales method that provides use of an instrument and consumables (reagents) to a customer on a per test basis. These agreements may also include maintenance of the instruments placed at customer locations as well as initial training. We initially determine if a reagent rental arrangement contains a lease at contract commencement. Where we have determined that such an arrangement contains a lease, we next must ascertain its lease classification for purposes of applying appropriate accounting treatment as an operating, sales-type or direct financing lease. For purposes of determining the lease term used in performing the lease classification test, we include the noncancellable period of the lease together with those periods covered by the option to extend the lease if the customer is reasonably certain to exercise that option, the periods covered by an option to terminate the lease if the customer is reasonably certain not to exercise that option, and the periods covered by the option to extend (or not to terminate) the lease in which exercise of the option is controlled by the Company. The assessment of the lease term for reagent rental agreements, including the impact from any associated contractual termination penalties, are subject to an estimation process. While most of our reagent rental arrangements contain either the option for a lessee to extend and/or cancel, the period in which the contract is enforceable is a very short period and therefore the lease term has been limited to the noncancellable period. Generally, these arrangements do not contain an option for the lessee to purchase the underlying asset.

We concluded that the use of the instrument (referred to as “lease elements”) is not within the guidance of ASC 606 but rather ASC 842. Accordingly, we first allocate the transaction price between the lease elements and the non-lease elements based on relative standalone selling prices. The determination of the transaction price requires judgment and consideration of any fixed/minimum payments as well as estimates of variable consideration. After allocation, the amount of variable payments allocated to lease components will be recognized as income under ASC 842, while the amount of variable payments allocated to non-lease components will be recognized as income in accordance with ASC 606.

Maintenance services, along with the reagents, are allocated to the non-lease elements and are recognized as income. Generally, the terms of the arrangements result in the transfer of control for reagents upon either (i) when the consumables are delivered or (ii) when the consumables are consumed by the customer.

Our reagent rental arrangements are predominantly comprised of variable lease payments that fluctuate depending on the volume of reagents purchased, as very few of such arrangements contain any fixed/minimum lease payments. Further, our reagent rental arrangements are predominantly classified as operating leases, and any sales-type leases represent in aggregate an immaterial amount of lease income. Our reported lease income is primarily variable in nature and is recognized upon delivery or as the reagents are consumed by the customer.

Revenue allocated to the lease elements of these reagent rental arrangements represented approximately 2% of total revenue at December 31, 2021, and 3% at both December 31, 2020 and 2019, respectively and are included as part of the Net sales in our consolidated statements of income.
Contract costs:
As a practical expedient, we expense as incurred costs to obtain contracts as the amortization period would have been one year or less. These costs include our internal sales force and certain partner sales incentive programs and are recorded within Selling, general and administrative expense in our consolidated statements of income.
Disaggregation of Revenue:
The disaggregation of our revenue by geographic region is based primarily on the location of the use of the product or service, and by industry segment sources. The disaggregation of our revenues by industry segment sources are presented in our Segment Information footnote (see Note 14).
Deferred revenues primarily represent unrecognized fees billed or collected for extended service arrangements. The deferred revenue balance at December 31, 2021 and December 31, 2020 was $71.0 million and $60.0 million, respectively. The short-term deferred revenue balance at December 31, 2021 and December 31, 2020 was $50.9 million and $42.5 million, respectively.

We warrant certain equipment against defects in design, materials and workmanship, generally for a period of one year. We estimate the cost of warranties at the time the related revenue is recognized based on historical experience, specific warranty terms and customer feedback. These costs are recorded within Cost of goods sold in our consolidated statements of income.

Warranty liabilities are included in Other current liabilities and Other long-term liabilities in the consolidated balance sheets. Change in our warranty liability were as follows (in millions):
202120202019
January 1$9.8 $9.0 $10.1 
Provision for warranty14.8 9.4 9.9 
Actual warranty costs(11.9)(8.6)(11.0)
December 31$12.7 $9.8 $9.0 

Shipping and Handling

We classify all freight costs billed to customers as Net sales.  Related freight costs are recognized upon transfer of control of the promised products to customers as a fulfillment cost and included in Cost of goods sold.

Research and Development

All research and development costs are expensed as incurred. Types of expense incurred in research and development include materials and supplies, employee compensation, consulting and third-party services, depreciation, facility costs and information technology. 

Foreign Currency

Balance sheet accounts of international subsidiaries are translated at the current exchange rates as of the end of each accounting period.  Income statement items are translated at average exchange rates for the period.  The resulting translation adjustments are recorded as a separate component of stockholders’ equity.

Foreign currency transaction gains and losses are included in Foreign exchange losses, net in the consolidated statements of income.  Transaction gains and losses result primarily from fluctuations in exchange rates when intercompany receivables and payables are denominated in currencies other than the functional currency of our subsidiary that recorded the transaction.

Forward Foreign Exchange Contracts

As part of distributing our products, we regularly enter into intercompany transactions.  We enter into forward foreign exchange contracts to manage foreign exchange risk of future movements in exchange rates that affect foreign currency denominated intercompany receivables and payables.  We do not use derivative financial instruments for speculative or trading purposes, nor do we seek hedge accounting treatment for any of our contracts. As a result, these contracts, generally with maturity dates of 90 days or less and denominated primarily in currencies of industrial countries, are recorded as an asset or liability measured at their fair value at each balance sheet date. The resulting gains or losses offset exchange gains or losses, on the related receivables and payables, all of which are recorded in Foreign exchange losses, net in the consolidated statements of income. We classify the proceeds from (payments for) forward foreign exchange contracts as cash flows from operating activities in our consolidated statements of cash flows. 
Share-Based Compensation Plans

Share-based compensation expense for all share-based payment awards granted is determined based on the grant-date fair value.  We recognize these compensation costs over the requisite service period of the award, which is generally the vesting term of the share-based payment awards.  Forfeitures are recognized as they occur.  These plans are described more fully in Note 9.

Earnings Per Share

Basic earnings per share is computed by dividing net income attributable to Bio-Rad by the weighted average number of common shares outstanding for that period.  Diluted earnings per share takes into account the effect of dilutive instruments, such as stock options and restricted stock, and uses the average share price for the period in determining the number of potential common shares that are to be added to the weighted average number of shares outstanding.  Potential common shares are excluded from the diluted earnings per share calculation if the effect of including such securities would be anti-dilutive.

The weighted average number of common shares outstanding used to calculate basic and diluted earnings per share, and the anti-dilutive shares that are excluded from the diluted earnings per share calculation are as follows (in thousands):
 Year Ended December 31,
 202120202019
Basic weighted average shares outstanding29,831 29,768 29,843 
Effect of potentially dilutive stock options   
    and restricted stock awards377 392 341 
Diluted weighted average common shares30,208 30,160 30,184 
Anti-dilutive stock options and restricted stock awards
    excluded from the computation of diluted EPS33 44 98 

Fair Value of Financial Instruments

For certain financial instruments, including cash and cash equivalents, short-term investments, accounts receivable, marketable securities, notes payable, accounts payable and foreign exchange contracts, the carrying amounts approximate fair value.

The estimated fair value of financial instruments is based on the exchange price that would be received for an asset or paid to transfer a liability (an exit price) using available market information or other appropriate valuation methodologies in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants.  Estimates are not necessarily indicative of the amounts that could be realized in a current market exchange as considerable judgment is required in interpreting market data used to develop estimates of fair value.  The use of different market assumptions or estimation techniques could have a material effect on the estimated fair value (see Note 3).
Equity Investments

Investments in publicly traded companies in which we do not have the ability to exercise significant influence are reported at fair value, with unrealized gains and losses reported as a component of change in fair market value of equity and debt securities in our consolidated statements of income. Companies in which we do not have a controlling financial interest, but over which we have significant influence, are accounted for using the equity method. Our share of the after-tax earnings of equity method investees is included in other income, net in our consolidated statements of income. Investments in privately held companies in which we do not have the ability to exercise significant influence are accounted for using the cost method with adjustments for observable changes in price or impairments (see Note 3). We monitor our relationships with investees when changes occur that could affect whether we have the ability to exercise significant influence.


Recent Accounting Pronouncements Adopted

In March 2020, the FASB issued ASU No. 2020-04, "Facilitation of the Effects of Reference Rate Reform on Financial Reporting." The ASU provides optional expedients and exceptions for applying GAAP to transactions affected by reference rate (e.g., LIBOR) reform if certain criteria are met, for a limited period of time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. The ASU is effective as of March 12, 2020 through December 31, 2022. We will evaluate transactions or contract modifications occurring as a result of reference rate reform and determine whether to apply the optional guidance on an ongoing basis. The ASU has not and is currently not expected to have a material impact on our consolidated financial statements.

In January 2020, the FASB issued ASU 2020-01, "Clarifying the Interactions between Topic 321 Investments—Equity Securities, Topic 323 Investments—Equity Method and Joint Ventures, and Topic 815 Derivatives and Hedging." ASU 2020-01 clarifies that a company should consider observable transactions that require a company to either apply or discontinue the equity method of accounting under Topic 323 for the purposes of applying the measurement alternative in accordance with Topic 321 immediately before applying or upon discontinuing the equity method. ASU 2020-01 also clarifies that, when determining the accounting for certain forward contracts and purchased options a company should not consider, whether upon settlement or exercise, if the underlying securities would be accounted for under the equity method or fair value option. ASU 2020-01 was effective for fiscal years beginning after December 15, 2020. The adoption of ASU 2020-01 did not have a material impact on our consolidated financial statements.
In December 2019, the FASB issued ASU 2019-12, "Simplifying the Accounting for Income Taxes," which
eliminates certain exceptions within ASC 740, Income Taxes, and clarifies other aspects of the current guidance to
promote consistency among reporting entities. ASU 2019-12 was effective for fiscal years beginning after
December 15, 2020, with any adjustments reflected as of January 1, 2021. The adoption of ASU 2019-12 did not have a material impact on our consolidated financial statements.

Recent Accounting Pronouncements to be Adopted

In November 2021, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2021-10, "Government Assistance." The ASU includes tax credits but not within Topic 740, "Income Taxes," cash grants, grants of other assets and project grants. The ASU excludes transactions in which a government is a customer within Topic 606, "Revenue from Contracts with Customers." The ASU will be effective for fiscal years beginning after December 15, 2021, with early adoption permitted. We will not early adopt this ASU. We are currently evaluating the effect of adopting this pronouncement on our financial statements and disclosures.
In October 2021, the FASB issued ASU 2021-08, "Accounting for Contract Assets and Contract Liabilities from Contracts with Customers." ASU 2021-08 requires an acquirer in a business combination to recognize and measure contract assets and contract liabilities (deferred revenue) from acquired contracts using the revenue recognition guidance in Topic 606. Under this approach, the acquirer applies the revenue model as if it had originated the contracts. This is a departure from the current requirement to measure contract assets and contract liabilities at fair value. ASU 2021-08 is applied to business combinations occurring on or after January 1, 2023. We early adopted ASU 2021-08 on January 1, 2022.
v3.22.0.1
2. Acquisitions
 12 Months Ended
Dec. 31, 2021
Business Combinations [Abstract]  
Mergers, Acquisitions and Dispositions Disclosures
2.    ACQUISITIONS AND DIVESTITURES

ACQUISITIONS

Dropworks Acquisition:

On October 15, 2021 (the "Acquisition Date"), we acquired all equity interests of Dropworks, Inc. ("Dropworks") for a total consideration of $125.5 million.

Dropworks is a development stage company focused on developing a digital PCR product. The strategic rationale for the transaction was to address additional opportunities in the PCR market. We believe this acquisition will complement our Life Science product offerings. The acquisition was included in our Life Science segment's results of operations from the Acquisition Date. The amount of acquisition-related costs was not material.

Dropworks met the definition of a business, and therefore is accounted for as a business combination.

The following table summarizes the final fair values of the assets acquired and liabilities assumed at the Acquisition Date (in millions):

Fair Value
Intangible assets$83.6 
Deferred tax assets5.6 
Deferred tax liabilities(19.5)
Other identifiable assets acquired, net0.4 
Net identifiable assets acquired70.1 
Goodwill55.4 
Net assets acquired$125.5 
Goodwill related to the acquisition is primarily attributable to the opportunities in the digital PCR market from combining the know-how and technologies of Bio-Rad and Dropworks, and is not deductible for tax purposes.

The following table summarizes the final fair values and estimated useful life of the components of identifiable intangible assets acquired as of the Acquisition Date (in millions):

Fair ValueEstimated Useful Life (years)
Covenants not to compete$1.9 4.7
In-process research and development81.7 
Total identifiable intangible assets acquired$83.6 
The acquired covenants not to compete are being amortized over its estimated useful life using the straight-line method of amortization, which is the term based on the legal rights associated with the covenants not to compete asset. Amortization of the acquired covenants not to compete of $0.1 million, during the year ended December 31, 2021, is included in Selling, general and administrative expense in the consolidated statements of income.

In-process research and development (IPR&D) is accounted for as an indefinite-lived asset. Once the project is completed, the carrying value of the IPR&D will be amortized over the estimated useful life of the asset. IPR&D is assessed for impairment on an annual basis until the project is completed.

We believe the values of acquired intangible assets reported above represent their fair values and approximate the amounts a market participant would pay for these intangible assets as of the Acquisition Date.

We included Dropworks' estimated fair value of assets acquired and liabilities assumed in our consolidated balance sheets beginning on the Acquisition Date. The results of operations for Dropworks subsequent to the Acquisition Date have been included in, but are immaterial to, our consolidated statements of income for the year ended December 31, 2021. Pro forma results of operations for the Dropworks acquisition have not been presented because they are not material to the consolidated statements of income.

Celsee Acquisition:

On April 1, 2020 (the "Acquisition Date"), we acquired all equity interests of Celsee, Inc. ("Celsee") for total consideration of $99.3 million (as described in the table below), including the estimated fair value of contingent consideration. The contingent consideration of up to $60.0 million is payable in cash, upon the achievement of certain net revenues for the period beginning on January 1, 2021 and ending on December 31, 2022.

Celsee is a manufacturer of instruments and consumables for the isolation, detection, and analysis of single cells. We believe this acquisition will complement our Life Science product offerings. The acquisition was included in our Life Science segment's results of operations from the Acquisition Date. The amount of acquisition-related costs was minimal as Bio-Rad primarily represented itself during the acquisition process.

Celsee met the definition of a business, and therefore is accounted for as a business combination.

The fair value of consideration transferred for the Celsee acquisition consists of the following (in millions):

Purchase price (cash)$99.2 
Fair value of contingent consideration (earn-out)0.1 
Fair value of total consideration transferred$99.3 

The following table summarizes the final fair values of the assets acquired and liabilities assumed at the Acquisition Date (in millions):
Fair Value
Cash and cash equivalents$0.6 
Intangible assets79.9 
Deferred tax assets8.4 
Deferred tax liabilities(19.7)
Other identifiable assets acquired, net0.3 
Net identifiable assets acquired69.5 
Goodwill29.8 
Net assets acquired$99.3 

Goodwill related to the acquisition is primarily attributable to opportunities and economies of scale from combining the operations and technologies of Bio-Rad and Celsee, and is not deductible for tax purposes.

The following table summarizes the final fair values and estimated useful lives of the components of identifiable intangible assets acquired as of the Acquisition Date (in millions):

Fair ValueEstimated Useful Life (years)
Developed product technology$70.3 18.9
Customer relationships3.6 4.0
Covenants not to compete1.4 3.0
In-process research and development4.6 
Total identifiable intangible assets acquired$79.9 

Intangible assets acquired as a result of the Celsee acquisition are being amortized over their estimated useful lives using the straight-line method of amortization, which materially approximates the distribution of the economic value of the identified intangible assets. Amortization of acquired developed technology of $3.7 million and $2.8 million for the years ended December 31, 2021 and December 31, 2020, respectively, are included in Cost of goods sold in the consolidated statements of income. Amortization of the acquired customer relationships of $0.9 million and $0.7 million and covenants not to compete of $0.5 million and $0.4 million for the years ended December 31, 2021 and December 31, 2020, respectively, are included in Selling, general and administrative expense in the consolidated statements of income.

In-process research and development (IPR&D) is accounted for as an indefinite-lived asset. Once the project is completed, the carrying value of the IPR&D will be amortized over the estimated useful life of the asset. IPR&D is assessed for impairment on an annual basis until the project is completed.

We believe the values of acquired intangible assets reported above represent their fair values and approximate the amounts a market participant would pay for these intangible assets as of the Acquisition Date.

We included Celsee's fair value of assets acquired and liabilities assumed in our consolidated balance sheets beginning on the Acquisition Date. The results of operations for Celsee subsequent to the Acquisition Date have been included in, but are immaterial to, our consolidated statements of income for the years ended. Pro forma results of operations for the Celsee acquisition have not been presented because they are not material to the consolidated statements of income.
DIVESTITURE

Informatics Divestiture:

In April 2020, we received $12.2 million for the sale of our Informatics division, which focused on providing and developing comprehensive, high-quality spectral databases and associated software. The division was part of our Other Operations segment. In connection with this sale, we recorded an $11.7 million gain in Other income, net, in the consolidated statements of income for the year ended December 31, 2020.
v3.22.0.1
3. Fair Value Measurements
 12 Months Ended
Dec. 31, 2021
Fair Value Disclosures [Abstract]  
Fair Value Measurements
3. FAIR VALUE MEASUREMENTS AND INVESTMENTS

We determine the fair value of an asset or liability based on the assumptions that market participants would use in pricing the asset or liability in an orderly transaction between market participants at the measurement date. The identification of market participant assumptions provides a basis for determining what inputs are to be used for pricing each asset or liability. A fair value hierarchy has been established which gives precedence to fair value measurements calculated using observable inputs over those using unobservable inputs. This hierarchy prioritizes the inputs into three broad levels as follows:

•Level 1: Quoted prices in active markets for identical instruments
•Level 2: Other significant observable inputs (including quoted prices in active markets for similar instruments)
•Level 3: Significant unobservable inputs (including assumptions in determining the fair value of certain investments)

Financial assets and liabilities carried at fair value and measured on a recurring basis as of December 31, 2021 are classified in the hierarchy as follows (in millions):
Level 1Level 2Level 3Total
Financial assets carried at fair value:   
Cash equivalents:   
Commercial paper$— $39.8 $— $39.8 
Time deposits7.2 10.1 — 17.3 
Asset-backed securities— 0.1 — 0.1 
Foreign Govt Obligations— 0.8 — 0.8 
Municipals obligations— 0.3 — 0.3 
U.S. government sponsored agencies— 33.6 — 33.6 
Money market funds50.7 — — 50.7 
Total cash equivalents (a)57.9 84.7 — 142.6 
Restricted investments (b)6.9 — — 6.9 
Equity Securities (c)13,977.5 — — 13,977.5 
Loan under the fair value option (d)— — 443.1 443.1 
Available-for-sale investments:
Corporate debt securities— 182.3 — 182.3 
U.S. government sponsored agencies— 44.3 — 44.3 
Foreign government obligations— 1.0 — 1.0 
Other foreign obligations— 3.8 — 3.8 
Municipal obligations— 9.0 — 9.0 
Asset-backed securities— 87.3 — 87.3 
Total available-for-sale investments (e)— 327.7 — 327.7 
Forward foreign exchange contracts (f)— 1.7 — 1.7 
Total financial assets carried at fair value$14,042.3 $414.1 $443.1 $14,899.5 
Financial liabilities carried at fair value:   
     Forward foreign exchange contracts (g)$— $2.8 $— $2.8 

Financial assets and liabilities carried at fair value and measured on a recurring basis as of December 31, 2020 are classified in the hierarchy as follows (in millions):
Level 1Level 2Level 3Total
Financial assets carried at fair value:   
Cash equivalents:   
Commercial paper$— $41.7 $— $41.7 
Time deposits17.6 10.0 — 27.6 
Asset-backed securities— 0.9 — 0.9 
U.S. government sponsored agencies— $2.5 — 2.5 
Money market funds60.1 — — 60.1 
Total cash equivalents (a)77.7 55.1 — 132.8 
Restricted investments (b)6.7 — — 6.7 
Equity securities (c)9,582.4 — — 9,582.4 
Available-for-sale investments:   
Corporate debt securities— 133.2 — 133.2 
U.S. government sponsored agencies— 76.9 — 76.9 
Foreign government obligations— 4.0 — 4.0 
Other foreign obligations— 2.1 — 2.1 
Municipal obligations— 15.2 — 15.2 
Asset-backed securities— 36.2 — 36.2 
Total available-for-sale investments (e)— 267.6 — 267.6 
Forward foreign exchange contracts (f)— 1.0 — 1.0 
Total financial assets carried at fair value$9,666.8 $323.7 $— $9,990.5 
Financial liabilities carried at fair value:   
Forward foreign exchange contracts (g)$— $1.0 $— $1.0 
 Contingent consideration (h)— — 0.7 0.7 
Total financial liabilities carried at fair value$— $1.0 $0.7 $1.7 

(a) Cash equivalents are included in Cash and cash equivalents in the consolidated balance sheets.

(b) Restricted investments are included in the following accounts in the consolidated balance sheets (in millions):
December 31, 2021December 31, 2020
Restricted investments$5.6 $5.6 
Other investments1.31.1 
   Total$6.9 $6.7 


(c) Equity securities are included in the following accounts in the consolidated balance sheets (in millions):
December 31, 2021December 31, 2020
Short-term investments$71.4 $61.4 
Other investments13,906.1 9,521.0 
   Total$13,977.5 $9,582.4 
(d) The Loan under the fair value option is included in Other investments in the consolidated balance sheets.

(e) Available-for-sale investments are included in the following accounts in the consolidated balance sheets (in millions):
 December 31,
2021		December 31, 2020
Short-term investments$327.7 $267.5 
Other investments— 0.1 
Total$327.7 $267.6 


(f) Forward foreign exchange contracts in an asset position are included in other current assets in the consolidated balance sheets.

(g) Forward foreign exchange contracts in a liability position are included in other current liabilities in the consolidated balance sheets.

(h) Contingent consideration liabilities in a liability position are included in the other long-term liabilities in the consolidated balance sheets.

Level 1 Fair Value Measurements

As of December 31, 2021, we own 12,987,900 ordinary voting shares and 9,588,908 preference shares of Sartorius AG (Sartorius), of Goettingen, Germany, a process technology supplier to the biotechnology, pharmaceutical, chemical and food and beverage industries. We did not purchase any incremental shares for the years ended December 31, 2021 and 2020. We own approximately 37% of the outstanding ordinary shares (excluding treasury shares) and 28% of the preference shares of Sartorius as of December 31, 2021. The Sartorius family trust (Sartorius family members are beneficiaries of the trust) holds a majority interest of the outstanding ordinary shares of Sartorius. We do not have the ability to exercise significant influence over the operating and financial policies of Sartorius primarily because we do not have any representative or designee on Sartorius' board of directors and have tried and failed to obtain access to operating or financial information necessary to apply the equity method of accounting.

The change in fair market value on our investment in Sartorius AG for the year ended December 31, 2021 was $4.92 billion gain and is recorded in our consolidated statements of income.

Level 2 Fair Value Measurements

To estimate the fair value of Level 2 debt securities as of December 31, 2021 and 2020, we used Refinitiv as the primary pricing source. Our pricing process allows us to select a hierarchy of pricing sources for securities held. If Refinitiv does not price a Level 2 security that we hold, then the pricing provider will utilize our custodian supplied pricing as the secondary pricing source.

Available-for-sale investments consist of the following (in millions):
 December 31, 2021
Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Allowances for Credit LossesEstimated
Fair
Value
Short-term investments:    
Corporate debt securities$181.9 $0.5 $(0.2)— $182.2 
Municipal obligations9.0 — — — 9.0 
Asset-backed securities87.5 0.1 (0.2)— 87.4 
U.S. government sponsored agencies44.3 — — — 44.3 
Foreign government obligations1.0 — — — 1.0 
  Other foreign obligations 3.8 — — — 3.8 
 327.5 0.6 (0.4)— 327.7 
Long-term investments:    
Asset-backed securities— — — — — 
 — — — — — 
Total$327.5 $0.6 $(0.4)$— $327.7 

The following is a summary of the amortized cost and estimated fair value of our debt securities at December 31, 2021 by contractual maturity date (in millions):
Amortized
Cost		Estimated Fair
Value
Mature in less than one year$135.5 $135.5 
Mature in one to five years153.7 153.9 
Mature in more than five years38.3 38.3 
Total$327.5 $327.7 

Available-for-sale investments consist of the following (in millions):
 December 31, 2020
Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Estimated
Fair
Value
Short-term investments:    
Corporate debt securities$130.5 $2.7 $— $133.2 
Municipal obligations15.0 0.2 — 15.2 
Asset-backed securities35.8 0.3 — 36.1 
U.S. government sponsored agencies74.7 2.2 — 76.9 
Foreign government obligations4.0 — — 4.0 
  Other foreign obligations2.1 — — 2.1 
 262.1 5.4 — 267.5 
Long-term investments:    
Asset-backed securities0.1 — — 0.1 
 0.1 — — 0.1 
Total$262.2 $5.4 $— $267.6 
There were no significant unrealized losses as of December 31, 2021 and December 31, 2020 in either the less than or greater than 12 month categories.

Our evaluation of credit losses for available-for-sale debt securities included the extent to which the fair value is less than the amortized cost basis, adverse conditions specifically related to the debt security, an industry or geographic area, and any changes in the rating of a security by a rating agency. Credit loss impairments are limited to the amount that the fair value of an instrument is less than its amortized cost basis.

At December 31, 2021, we have concluded that all payments related to our available-for-sale investments are expected to be made in full and on time at par value. The diminution of value in the intervening period is due to market conditions such as illiquidity and interest rate movements and not due to significant, inherent credit concerns surrounding the issuer. As a result, we have no allowances for credit losses on our available-for-sale investments portfolio as of December 31, 2021.
Included in other current assets are $2.2 million and $1.4 million of interest receivable as of December 31, 2021 and December 31, 2020, respectively, primarily associated with securities in our available-for-sale investments portfolio. Associated interest on these securities is typically payable semi-annually. Due to the short-term nature of our interest receivable asset, we have made an accounting policy election not to measure an allowance for credit losses for accrued interest receivable. We consider any uncollected interest receivable that is overdue greater than one year to be impaired for purposes of write-off. For the year ended December 31, 2021, we have not written-off any uncollected interest receivable.

As part of distributing our products, we regularly enter into intercompany transactions.  We enter into forward foreign exchange contracts to manage foreign exchange risk of future movements in foreign exchange rates that affect foreign currency denominated intercompany receivables and payables.  We do not use derivative financial instruments for speculative or trading purposes. We do not seek hedge accounting treatment for these contracts. As a result, these contracts, generally with maturity dates of 90 days or less and denominated primarily in currencies of industrial countries, are recorded at their fair value at each balance sheet date. The notional principal amounts provide one measure of the transaction volume outstanding as of December 31, 2021 and do not represent the amount of Bio-Rad's exposure to loss. The estimated fair value of these contracts was derived using the spot rates from Refinitiv on the last business day of the quarter and the points provided by counterparties. The resulting gains or losses offset exchange gains or losses on the related receivables and payables, both of which are included in foreign exchange losses, net in the consolidated statements of income.

The following is a summary of our forward foreign currency exchange contracts (in millions):
 December 31,
 2021
Contracts maturing in January through March 2022 to sell foreign currency: 
Notional value$125.0 
Unrealized gain/(loss)$1.0 
Contracts maturing in January through March 2022 to purchase foreign currency: 
Notional value$453.1 
Unrealized gain/(loss)$(2.1)

Included in other investments in the consolidated balance sheet are investments without readily determinable fair value measured at cost with adjustments for observable price changes or impairments. The carrying value of these investments was $6.5 million and $0.5 million as of December 31, 2021 and December 31, 2020, respectively.
Also included in other investments in the consolidated balance sheet are our equity method investments, for which our share of the equity method investees earnings is included in other income, net in our consolidated statements of income. The carrying value of these investments was $59.1 million and $38.4 million as of December 31, 2021 and December 31, 2020, respectively.

Level 3 Fair Value Investments

During the fourth quarter of 2021, we extended a collateralized loan to SHB with a principal amount of €400 million due at the latest on January 31, 2029, subject to certain events which could trigger payment prior to maturity (the “Loan”). The Loan proceeds will be used by SHB to partially finance the acquisition of interests under the Sartorius family trust (“Trust”) from a beneficiary of the Trust. Interest on the loan is payable annually in arrears at 1.5% per annum, and the entire principal amount is due at maturity. In addition to contractual interest, we are entitled to certain value appreciation rights associated with the acquired Trust interests, which upon termination of the Trust represent the right to receive Sartorius ordinary shares, that is due upon repayment of the Loan. We elected the fair value option under ASC 825, Financial Instruments for accounting of the Loan to SHB to simplify the accounting. The fair value of the Loan and value appreciation right is estimated under the income approach using a discounted cash flow, and option pricing model, respectively, which results in a fair value measurement categorized in Level 3. The significant assumptions used to estimate fair value of the Loan include an estimate of the discount rate and cash flows of the Loan and the significant assumptions used to estimate the fair value of the value appreciation right include volatility, the risk-free interest rate, expected life (in years) and expected dividend. The inputs are subject to estimation uncertainty and actual amounts realized may materially differ. An increase in the expected volatility may result in a significantly higher fair value, whereas a decrease in expected life may result in a significantly lower fair value. All subsequent changes in fair value of the Loan and value appreciation right, including accrued interest are recognized in Change in fair value of equity and debt securities in our consolidated statements of income. The overall change in fair value reflected in Change in fair value of equity and debt securities during the year ended December 31, 2021 was $10.8 million.

The following table provides a reconciliation of the Level 3 Loan measured at estimated fair value (in millions):

December 31, 2020$— 
Purchases$453.4 
Net decrease in estimated fair value of the Loan included in Change in fair value of equity and debt securities$(10.3)
Settlements$— 
December 31, 2021$443.1 
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4. Intangible Assets, Goodwill and Other
 12 Months Ended
Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Disclosure
4.    GOODWILL AND OTHER PURCHASED INTANGIBLE ASSETS

Changes to goodwill by segment were as follows (in millions):
 20212020
Life
Science		Clinical
Diagnostics		TotalLife
Science		Clinical
Diagnostics		Total
Balances as of January 1:      
Goodwill$277.9 $349.2 $627.1 $250.1 $349.2 $599.3 
Accumulated impairment losses and write-offs(41.8)(293.4)(335.2)(41.8)(293.4)(335.2)
Goodwill, net236.1 55.8 291.9 208.3 55.8 264.1 
Acquisitions (see Note 2)55.4 — 55.4 29.8 — 29.8 
Other adjustments— — — (2.0)— (2.0)
Period increase55.4 — 55.4 27.8 — 27.8 
Balances as of December 31:      
Goodwill333.3 349.2 682.5 277.9 349.2 627.1 
Accumulated impairment losses and write-offs(41.8)(293.4)(335.2)(41.8)(293.4)(335.2)
Goodwill, net$291.5 $55.8 $347.3 $236.1 $55.8 $291.9 

During the year ended December 31, 2020, goodwill for a U.S. private company acquired in March 2019 was decreased by $2.0 million due to the release from an escrow account setup during our acquisition, which should have been classified as a prepaid asset in the opening balance sheet as of acquisition date.

Information regarding our identifiable purchased intangible assets with finite and indefinite lives is as follows (in millions):
December 31, 2021
Weighted-Average Amortization Period (years)Purchase
Price		Accumulated
Amortization		Net
Carrying
Amount
Customer relationships/lists5.27$111.8 $(90.7)$21.1 
Know how3.75171.6 (154.9)16.7 
Developed product technology13.42215.6 (115.6)100.0 
Licenses6.7964.9 (40.6)24.3 
Tradenames7.336.3 (4.4)1.9 
Covenants not to compete3.786.5 (2.9)3.6 
     Total finite-lived intangible assets576.7 (409.1)167.6 
In-process research and development86.3 — 86.3 
     Total purchased intangible assets$663.0 $(409.1)$253.9 
 December 31, 2020
Weighted-Average Amortization Period (years)Purchase
Price		Accumulated
Amortization		Net
Carrying
Amount
Customer relationships/lists5.51$116.6 $(87.2)$29.4 
Know how4.75196.6 (175.4)21.2 
Developed product technology14.00218.1 (107.1)111.0 
Licenses7.7365.6 (37.4)28.2 
Tradenames7.826.6 (4.2)2.4 
Covenants not to compete3.874.5 (2.0)2.5 
Other—0.1 (0.1)— 
Total finite-lived intangible assets 608.1 (413.4)194.7 
In-process research and development4.8 — 4.8 
Total purchased intangible assets$612.9 $(413.4)$199.5 

Amortization expense related to purchased intangible assets for the years ended December 31, 2021, 2020 and 2019 was $28.4 million, $27.5 million and $23.5 million, respectively.  Estimated future amortization expense (based on existing purchased finite-lived intangible assets) for the years ending December 31, 2022, 2023, 2024, 2025, 2026 and thereafter is $25.4 million, $23.9 million, $21.0 million, $19.0 million, $14.0 million, and $64.3 million, respectively.
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5. Notes Payable and Long-Term Debt
 12 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]  
Notes Payable and Long-term Debt NOTES PAYABLE AND LONG-TERM DEBT
The principal components of long-term debt are as follows (in millions):
December 31, 2021December 31, 2020
Finance leases and other debt11.0 14.1 
Less current maturities(0.5)(1.8)
Long-term debt$10.5 $12.3 

Under domestic and international lines of credit, standby letters of credit and guarantee arrangements, we had $208.4 million available for borrowing and usage as of December 31, 2021, which was reduced by $4.7 million that was utilized for standby letters of credit and guarantee arrangements issued by our banks to support our obligations.

Credit Agreement

In April 2019, Bio-Rad entered into a $200.0 million unsecured revolving credit facility ("Credit Agreement"). Borrowings under the Credit Agreement are on a revolving basis and can be used to make permitted acquisitions, for working capital and for other general corporate purposes.  In November 2021, Bio-Rad entered into Amendment No. 1 (“Amendment”) to the Credit Agreement to add LIBOR replacement language, expand the definition of EBITDA, and increase certain financial baskets in the Credit Agreement. We had no outstanding borrowings under the Credit Agreement as of December 31, 2021; however, $0.2 million was utilized for domestic standby letters of credit that reduced our borrowing availability as of December 31, 2021. The Credit Agreement matures in April 2024. If we had borrowed against our Credit Agreement, the borrowing rate would have been 1.334% at December 31, 2021, which is based on the 3-month LIBOR.
The Credit Agreement requires Bio-Rad to comply with certain financial ratios and covenants, among other things. These ratios and covenants include a leverage ratio test and an interest coverage test, as well as certain restrictions on our ability to declare or pay dividends, incur debt, guarantee debt, enter into transactions with affiliates, merge or consolidate, sell assets, make investments and create liens. We were in compliance with all of these ratios and covenants as of December 31, 2021 and 2020.

Maturities of finance leases and other debt at December 31, 2021 were as follows: 2022 - $0.5 million; 2023 - $0.5 million; 2024 - $0.5 million; 2025 - $0.4 million; 2026 - $0.5 million; and 2027 and thereafter - $8.6 million.
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6. Income Taxes
 12 Months Ended
Dec. 31, 2021
Income Tax Disclosure [Abstract]  
Income Taxes [Text Block]
6. INCOME TAXES

The U.S. and international components of income before taxes are as follows (in millions):
 Year Ended December 31,
 202120202019
U.S.$2,930.8 $2,339.7 $1,034.0 
International2,507.3 2,567.9 1,227.1 
Income before taxes$5,438.1 $4,907.6 $2,261.1 


The provision for income taxes consists of the following (in millions):
 Year Ended December 31,
 202120202019
Current tax expense:   
U.S. Federal$72.4 $69.9 $13.0 
State9.2 12.0 4.4 
International32.6 22.3 23.5 
Current tax expense114.2 104.2 40.9 
Deferred tax expense:   
U.S. Federal981.3 893.5 409.7 
State68.9 54.0 24.4 
International32.1 31.5 16.1 
Deferred tax expense1,082.3 979.0 450.2 
Non-current tax expense (benefit) (4.3)18.2 11.3 
Provision for income taxes$1,192.2 $1,101.4 $502.4 


The reconciliation between our effective tax rate on income before taxes and the statutory tax rate is as follows:
 Year Ended December 31,
 202120202019
U. S. statutory tax rate21.0 %21.0 %21.0 %
Impact of foreign operations(8.6)(9.9)(9.7)
U.S. taxation of foreign income8.9 10.2 10.3 
State taxes1.3 1.1 1.0 
Other(0.7)— (0.4)
Provision for income taxes21.9 %22.4 %22.2 %
On December 22, 2017, the U.S. enacted comprehensive tax legislation (the “Tax Act”). The Tax Act made broad and complex changes to the U.S. tax code, including the imposition of a one-time mandatory deemed repatriation tax (“Transition Tax”) on certain earnings accumulated offshore since 1986 and the reduction of the corporate tax rate from 35% to 21% for U.S. taxable income, resulting in a one-time remeasurement of U.S. federal deferred tax assets and liabilities.

Our effective income tax rates were 21.9%, 22.4% and 22.2% for the years ended December 31, 2021, 2020 and 2019, respectively. The effective tax rates for the years ended December 31, 2021, 2020 and 2019 were driven by the unrealized gain in equity securities that is taxed at approximately 22% as well as the geographic mix of earnings and the taxation of our foreign earnings.

Many jurisdictions in which we operate have statutory tax rates that differ from the U.S. statutory tax rate of 21%. Our effective tax rate is impacted, either favorably or unfavorably, by many factors including, but not limited to the jurisdictional mix of income before tax, changes to statutory tax rates, changes in tax laws or regulations, tax audits and settlements, and generation of tax credits.

Deferred tax assets and liabilities reflect the tax effects of losses, credits, and temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes.  Significant components of deferred tax assets and liabilities are as follows (in millions):
 December 31,
 20212020
Deferred tax assets:  
Bad debt, inventory and warranty accruals$32.0 $29.6 
Other post-employment benefits, vacation and other reserves23.8 29.8 
Tax credit and net operating loss carryforwards104.5 93.5 
Lease obligations46.6 49.3 
Other64.8 44.8 
    Total gross deferred tax assets271.7 247.0 
Valuation allowance(46.4)(44.6)
       Total deferred tax assets225.3 202.4 
Deferred tax liabilities:  
Property and equipment35.0 37.0 
Lease assets44.5 46.8 
Investments and intangible assets3,155.7 2,143.4 
        Total deferred tax liabilities3,235.2 2,227.2 
Net deferred tax liabilities$(3,009.9)$(2,024.8)

The realization of deferred tax assets is dependent upon the generation of sufficient taxable income of the appropriate character in future periods. We regularly assess our ability to realize our deferred tax assets and establish a valuation allowance if it is more likely than not that some portion, or all, of our deferred tax assets will not be realized. In assessing the realizability of our deferred tax assets, we weigh all available positive and negative evidence. Due to the weight of objectively verifiable negative evidence, we believe that it is more likely than not that certain of our state and foreign deferred tax assets will not be realized as of December 31, 2021, and have maintained a valuation allowance on such deferred tax assets. The valuation allowance against our deferred tax assets in certain states and foreign jurisdictions increased by $1.8 million for the year ended December 31, 2021. The valuation allowance for deferred tax assets is as follows (in millions):
December 31,
202120202019
Beginning balance$44.6 $67.2 $70.8 
Additions charged to expenses1.8 — — 
Deductions from reserves— (22.6)(3.6)
Ending balance$46.4 $44.6 $67.2 

As of December 31, 2021, our federal, state and foreign net operating loss carryforwards were approximately $40.0 million, $94.2 million and $297.4 million, respectively. Of our foreign net operating losses, $107.1 million may be carried forward indefinitely. The majority of the remaining foreign net operating losses, if not utilized, will begin to expire in 2025. Our federal and state net operating loss carryforwards, if not utilized, will begin to expire in 2028. As of December 31, 2021, our federal and state tax credit carryforwards were approximately $5.4 million and $38.1 million, respectively. Our federal tax credits, if not utilized, will begin to expire in 2029, and our state tax credits, generally, may be carried forward indefinitely.

Federal and state tax laws impose restrictions on the utilization of net operating loss and certain tax credit carryforwards in the event of a change in our ownership as defined by the Internal Revenue Code Sections 382 and 383. Under Section 382 and 383 of the Internal Revenue Code, substantial changes in our ownership and the ownership of acquired companies may limit the amount of net operating loss and research and development credit carryforwards that are available to offset taxable income. The annual limitation would not automatically result in the loss of net operating loss or research and development credit carryforwards but may limit the amount available in any given future period.

Our income tax returns are audited by U.S. federal, state and foreign tax authorities. We are currently under examination by many of these tax authorities. The tax years open to examination include the years 2012 and forward for the U.S. and certain foreign jurisdictions including France, Germany, India and Switzerland. There are differing interpretations of tax laws and regulations, and as a result, significant disputes may arise with these tax authorities involving issues of the timing and amount of deductions and allocations of income among various tax jurisdictions. We evaluate our exposures associated with our tax filing positions on a quarterly basis.

We record liabilities for unrecognized tax benefits related to uncertain tax positions. We do not believe any currently pending uncertain tax positions will have a material adverse effect on our consolidated financial statements, although an adverse resolution of one or more of these uncertain tax positions in any period may have a material impact on the results of operations for that period.

The following is a tabular reconciliation of the total amounts of unrecognized tax benefits (in millions):
202120202019
Unrecognized tax benefits – January 1$55.8 $39.2 $29.8 
Additions to tax positions related to prior years3.2 14.0 7.6 
Reductions to tax positions related to prior years(2.1)(1.5)(0.7)
Additions to tax positions related to the current year18.1 3.4 3.0 
Settlements(2.4)— — 
Lapse of statute of limitations(10.8)(0.6)(0.4)
Currency translation0.1 1.3 (0.1)
Unrecognized tax benefits – December 31$61.9 $55.8 $39.2 
Bio-Rad recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. Related to the unrecognized tax benefits noted above, the cumulative amount of accrued interest and penalties as of December 31, 2021, 2020 and 2019 was $11.8 million, $14.3 million and $11.2 million, respectively. Bio-Rad accrued interest and penalties of $(2.5) million, $2.8 million, and $1.7 million for the years ended December 31, 2021, 2020, and 2019, respectively. The total unrecognized tax benefits and interest and penalties of $73.6 million as of December 31, 2021 was partially offset by deferred tax assets of $1.6 million and prepaid taxes of $13.7 million, for a net amount of $58.3 million.

As of December 31, 2021, based on the expected outcome of certain examinations or as a result of the expiration of statutes of limitation for certain jurisdictions, we believe that within the next twelve months it is reasonably possible that our previously unrecognized tax benefits could decrease by approximately $20.8 million. Substantially all such amounts will impact our effective income tax rate if recognized.

It is generally our intention to repatriate certain foreign earnings to the extent that such repatriations are not restricted by local laws or accounting rules, and there are no substantial incremental costs. The determination of the amount of the unrecognized deferred tax liability for foreign earnings that are indefinitely reinvested is not practicable to estimate.
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7. Stockholders' Equity
 12 Months Ended
Dec. 31, 2021
Stockholders' Equity Note [Abstract]  
Stockholders' Equity Note Disclosure [Text Block]
7.    STOCKHOLDERS' EQUITY

Bio-Rad’s issued and outstanding stock consists of Class A Common Stock (Class A) and Class B Common Stock (Class B).  Each share of Class A and Class B participates equally in the earnings of Bio-Rad, and is identical in all respects except as follows. Class A has limited voting rights.  Each share of Class A is entitled to one tenth of a vote on most matters, and each share of Class B is entitled to one vote.  Additionally, Class A stockholders are entitled to elect 25% of the directors, with Class B stockholders electing the remaining directors. Cash dividends may be paid on Class A shares without paying a cash dividend on Class B shares but no cash dividend may be paid on Class B shares unless at least an equal cash dividend is paid on Class A shares.  Class B shares are convertible at any time into Class A shares on a one-for-one basis at the option of the stockholder.  The founders of Bio-Rad, the Schwartz family, collectively hold a majority of Bio-Rad’s voting stock.  As a result, the Schwartz family is able to exercise significant influence over Bio-Rad.

Changes to Bio-Rad's issued common stock shares are as follows (in thousands):
Class A SharesClass B Shares
Balance at January 1, 201924,884 5,096 
Class B to Class A conversions24 (24)
Issuance of common stock58 18 
Balance at December 31, 201924,966 5,090 
Class B to Class A conversions32 (32)
Issuance of common stock75 18 
Balance at December 31, 202025,073 5,076 
Class B to Class A conversions16 (16)
Issuance of common stock45 18 
Balance at December 31, 202125,134 5,078 

Treasury Shares

In November 2017, the Board of Directors authorized a share repurchase program, granting the Company authority to repurchase, on a discretionary basis, up to $250.0 million of outstanding shares of our common stock. In July 2020, the Board of Directors authorized increasing the Share Repurchase Program to allow the Company to repurchase up to an additional $200.0 million of stock. Repurchases may be made at management's discretion from time to time on the open market or through privately negotiated transactions. The share repurchase activity under
the share repurchase program through open market transactions for the years ended December 31, 2021, 2020 and 2019 are summarized as follows:
Number of Shares PurchasedWeighted-Average Price per ShareTotal Shares Repurchased To DateRemaining Authorized Value
(in millions)
May 1, 2019 - May 31, 201925,421 $291.70 218,571 $193.7 
June 1, 2019 - June 30, 201925,977 $292.01 244,548 $186.1 
August 1, 2019 - August 31, 201914,745 $339.05 259,293 $181.1 
November 1, 2019 - November 30, 201922,343 $358.04 281,636 $173.1 
March 1, 2020 - March 31, 2020291,941 $342.55 573,577 $73.1 
March 1, 2021 - March 31, 202189,506 $558.60 663,083 $223.1 

For the years ended December 31, 2021 and 2020, we used 114,711 and 117,423, respectively, of the repurchased shares in connection with the vesting of restricted stock units. As of December 31, 2021, $223.1 million remained under the Share Repurchase Program.
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8. Accumulated Other Comprehensive Income
 12 Months Ended
Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
accumulated other comprehensive income [Text Block]
8.    ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

Accumulated other comprehensive income (loss) included in our consolidated balance sheets and consolidated statements of changes in stockholders' equity consists of the following components (in millions):
Foreign currency translation adjustmentsForeign other post-employment benefits adjustmentsNet unrealized holding gains (losses) on available-for-sale investmentsTotal Accumulated other comprehensive income (loss)
Balances as of January 1, 2020$(72.4)$(22.2)$7.2 $(87.4)
Other comprehensive (loss) income, before reclassifications371.9 (5.3)4.0 370.6 
Amounts reclassified from Accumulated other comprehensive income— 0.3 (0.6)(0.3)
Income tax effects(0.9)1.2 (0.8)(0.5)
Other comprehensive income (loss), net of income taxes371.0 (3.8)2.6 369.8 
Balances as of December 31, 2020$298.6 $(26.0)$9.8 $282.4 
Other comprehensive income (loss), before reclassifications(469.5)17.9 (4.0)(455.6)
Amounts reclassified from Accumulated other comprehensive income— 0.3 (1.2)(0.9)
Income tax effects0.4 (3.1)1.2 (1.5)
Other comprehensive income (loss), net of income taxes(469.1)15.1 (4.0)(458.0)
Balances as of December 31, 2021$(170.5)$(10.9)$5.8 $(175.6)

All amounts reclassified out of accumulated other comprehensive income were reclassified into other income, net in the consolidated statements of income. Reclassification adjustments are calculated using the specific identification method.
Comprehensive Income (Loss) Note ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Accumulated other comprehensive income (loss) included in our consolidated balance sheets and consolidated statements of changes in stockholders' equity consists of the following components (in millions):
Foreign currency translation adjustmentsForeign other post-employment benefits adjustmentsNet unrealized holding gains (losses) on available-for-sale investmentsTotal Accumulated other comprehensive income (loss)
Balances as of January 1, 2020$(72.4)$(22.2)$7.2 $(87.4)
Other comprehensive (loss) income, before reclassifications371.9 (5.3)4.0 370.6 
Amounts reclassified from Accumulated other comprehensive income— 0.3 (0.6)(0.3)
Income tax effects(0.9)1.2 (0.8)(0.5)
Other comprehensive income (loss), net of income taxes371.0 (3.8)2.6 369.8 
Balances as of December 31, 2020$298.6 $(26.0)$9.8 $282.4 
Other comprehensive income (loss), before reclassifications(469.5)17.9 (4.0)(455.6)
Amounts reclassified from Accumulated other comprehensive income— 0.3 (1.2)(0.9)
Income tax effects0.4 (3.1)1.2 (1.5)
Other comprehensive income (loss), net of income taxes(469.1)15.1 (4.0)(458.0)
Balances as of December 31, 2021$(170.5)$(10.9)$5.8 $(175.6)

All amounts reclassified out of accumulated other comprehensive income were reclassified into other income, net in the consolidated statements of income. Reclassification adjustments are calculated using the specific identification method.
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9. Share-based Compensation
 12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement, Noncash Expense [Abstract]  
Disclosure of Compensation Related Costs, Share-based Payments
9. SHARE-BASED COMPENSATION/EQUITY AWARD AND PURCHASE PLANS

Equity Award Plan
We have the 2017 Incentive Award Plan (2017 Plan) for officers and certain other employees.  The 2017 Plan authorizes the grant of stock options, restricted stock, restricted stock units, and other types of equity awards to employees. Stock options are granted at exercise prices not less than the fair market value of the underlying common stock on the date of grant and have a maximum term of 10 years.  We may issue stock options for either Class A or Class B common stock. Prior to September 2020, equity awards granted vest in increments of 20% per year on the yearly anniversary date of the grant. Starting in September 2020, equity awards granted vest in increments of 25% per year on the yearly anniversary date of the grant.  

A total of 2,108,724 shares have been reserved for issuance of equity awards under the 2017 Plan and may be of either Class A or Class B common stock. At December 31, 2021, there were 1,377,044 shares available to be granted.

Employee Stock Purchase Plans
Our 2011 Employee Stock Purchase Plan (2011 ESPP) provides that eligible employees may contribute up to the greater of 10% of their compensation or $25,000 annually towards the quarterly purchase of our Class A common stock.  The employees’ purchase price is 85% of the lesser of the fair market value of the stock on the first business day or the last business day of each calendar quarter.  We have authorized the sale of 1,300,000 shares of Class A common stock under the 2011 ESPP.

Share-Based Compensation

Included in our share-based compensation expense is the cost related to stock option grants, ESPP stock purchases and restricted stock unit awards.  Share-based compensation expense is allocated in the consolidated statements of income as follows (in millions):
Year ended December 31,
202120202019
Cost of goods sold$4.9 $3.4 $2.9 
Selling, general and administrative expense38.0 31.8 27.9 
Research and development expense8.3 6.4 4.8 
   Share-based compensation expense$51.2 $41.6 $35.6 

The income tax benefit related to share-based compensation expense was $7.4 million, $6.0 million and $5.6 million for the years ended December 31, 2021, 2020 and 2019, respectively. We did not capitalize any share-based compensation expense as it was immaterial.

The tax benefit from equity awards vested or exercised during the years ended December 31, 2021, 2020 and 2019 was $18.5 million, $11.2 million and $5.4 million, respectively.

For equity awards, we amortize the fair value on a straight-line basis.  All equity awards are amortized over the requisite service periods of the awards, which are generally the vesting periods. We recognize forfeitures as they occur.
Stock Options

The weighted-average fair value of stock options granted was estimated using a Black-Scholes option-pricing model with the following weighted-average assumptions:
 Year Ended December 31,
 202120202019
Expected volatility27 %27 %22 %
Risk-free interest rate1.05 %0.31 %1.69 %
Expected life (in years)7.37.47.5
Expected dividend— — — 
Weighted-average fair value of options granted$251.93 $153.32 $93.96 

Expected volatility is based on the historical volatilities of our common stock for a period equal to the stock option’s expected life.  The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of the grant. The expected life represents the number of years that we estimate, based primarily on historical experience, that the options will be outstanding prior to exercise.  We do not anticipate paying any cash dividends in the future and therefore use an expected dividend yield of zero.

The following table summarizes stock option activity:
SharesWeighted-
Average
Exercise Price		Weighted-
Average
Remaining
Contractual
Term (in years)		Aggregate
Intrinsic
Value
(in millions)
Outstanding, December 31, 2020285,123 $196.29   
Granted16,004 $814.95   
Exercised(50,686)$144.01   
Forfeited— $—   
Outstanding, December 31, 2021250,441 $246.41 4.31$128.5 
    
Unvested, December 31, 202164,101 $493.51 7.59$17.7 
Exercisable, December 31, 2021186,340 $161.41 3.18$110.7 

Intrinsic value for stock options is defined as the difference between the current market value and the exercise price. The total intrinsic value on the date of exercise of stock options exercised during the years ended December 31, 2021, 2020 and 2019 was $33.0 million, $24.4 million and $11.5 million, respectively.

Cash received from stock options exercised during the years ended December 31, 2021, 2020 and 2019 was $3.6 million, $3.8 million and $2.6 million, respectively.  

As of December 31, 2021, there was $8.5 million of total unrecognized compensation expense from stock options. This amount is expected to be recognized in the future over a remaining weighted-average period of approximately three years.
Restricted Stock Units
Restricted stock units are rights to receive shares of company stock.  The fair value of a restricted stock unit is the market value as determined by the closing price of the stock on the day of grant.

The following table summarizes restricted stock unit activity:

Restricted Stock
Units		Weighted-
Average
Grant-Date
Fair Value		Weighted-Average
Remaining
Contractual Term
(in years)		Aggregate
Intrinsic Value
(in millions)
Outstanding, December 31, 2020386,363 $360.90   
Granted85,541 $810.51   
Vested(128,092)$319.38   
Forfeited(26,952)$401.99   
Outstanding, December 31, 2021316,860 $495.57 1.65$239.4 

The total fair value of restricted stock units vested for the years ended December 31, 2021, 2020 and 2019 was $104.4 million, $65.0 million and $44.8 million, respectively. As of December 31, 2021, there was approximately $139.7 million of total unrecognized compensation expense related to restricted stock units.  This amount is expected to be recognized over a remaining weighted-average period of approximately three years.

Employee Stock Purchase Plans
The fair value of the employees’ purchase rights under the 2011 ESPP was estimated using a Black-Scholes model with the following weighted-average assumptions:
 Year Ended December 31,
 2021 2020 2019
Expected volatility25 % 41 % 31 %
Risk-free interest rate0.05 %0.5 % 2.25 %
Expected life (in years)0.250.250.25
Expected dividend—  —  — 
Weighted-average fair value     
of purchase rights$127.16  $94.93  $60.39 

The assumptions are primarily based on historical data.  Volatility is based on the historical volatilities of our common stock for a period equal to the expected life of the purchase rights.  The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of the grant.  We do not anticipate paying any cash dividends in the future and therefore use an expected dividend yield of zero.

We sold 31,639 shares for total employee contributions of $17.0 million, 47,548 shares for total employee contributions of $16.4 million and 58,717 shares for total employee contributions of $14.3 million under the 2011 ESPP to employees for the years ended December 31, 2021, 2020 and 2019, respectively.  At December 31, 2021, 520,344 shares remain authorized and available for issuance under the 2011 ESPP.
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10. Other Income and Expenses
 12 Months Ended
Dec. 31, 2021
Other Income and Expenses [Abstract]  
Other Income and Other Expense Disclosure
10. OTHER INCOME AND EXPENSE, NET

Other (income) expense, net includes the following components (in millions):
 Year Ended December 31,
 202120202019
Interest and investment income$(18.9)$(18.2)$(30.5)
Net realized gains on investments(8.0)(1.0)(1.5)
Other-than-temporary impairment losses on investments0.8 4.6 5.8 
Gain on divestiture of a division— (11.7)— 
Other (income) expense(0.7)1.8 0.1 
Other income, net$(26.8)$(24.5)$(26.1)
v3.22.0.1
11. Supplemental Cash Flow Information
 12 Months Ended
Dec. 31, 2021
Supplemental Cash Flow Information [Abstract]  
Cash Flow, Supplemental Disclosures [Text Block]
11.    SUPPLEMENTAL CASH FLOW INFORMATION

The reconciliation of net income to net cash provided by operating activities is as follows (in millions):
 Year Ended December 31,
 202120202019
Net income$4,245.9 $3,806.3 $1,758.7 
Adjustments to reconcile net income   
to net cash provided by operating activities    
Depreciation and amortization133.8 138.1 134.2 
Reduction in the carrying amount of right-of-use assets39.3 37.1 40.3 
Share-based compensation51.2 41.6 35.6 
Other-than-temporary impairment losses on investments0.8 4.6 5.8 
Changes in fair market value of equity and debt securities(4,926.2)(4,495.8)(2,031.0)
Gain on divestiture of a division— (11.7)— 
Payments for operating lease liabilities(40.7)(36.5)(38.6)
(Increase) decrease in accounts receivable(20.4)(15.0)1.6 
Decrease (increase) in inventories46.1 (52.1)24.2 
(Increase) decrease in other current assets(12.2)(8.4)61.8 
Increase in accounts payable and other current liabilities69.9 124.7 10.6 
(Decrease) increase in income taxes payable(28.8)39.0 (4.2)
Increase in deferred income taxes1,082.3 978.9 450.2 
Increase in other long-term assets(5.2)(6.4)(1.7)
Increase in other long-term liabilities10.5 26.9 13.4 
Other10.2 4.0 (3.0)
Net cash provided by operating activities$656.5 $575.3 $457.9 
Non-cash investing activities:
Purchased property, plant and equipment$5.2 $1.2 $8.1 
Purchased marketable securities and investments$6.0 $4.6 $1.4 
Sold marketable securities and investments$— $— $1.3 
v3.22.0.1
12. Commitments & Contingent Liabilities
 12 Months Ended
Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingent Liabilities
12. COMMITMENTS AND CONTINGENT LIABILITIES

Deferred Profit Sharing Retirement Plan

We have a profit sharing plan covering substantially all U.S. employees.  Contributions are made at the discretion of management.  As of December 31, 2021 and 2020, the liability related to the U.S. profit sharing plan was $3.8 million and $3.0 million, respectively.  The contribution expense was $18.4 million, $10.6 million and $16.1 million for the years ended December 31, 2021, 2020 and 2019, respectively.

Purchase Obligations

As of December 31, 2021, we had purchase obligations that have not been recognized on our balance sheet of $16.7 million, which include agreements to purchase goods or services that are enforceable and legally binding to Bio-Rad and that specify all significant terms and exclude agreements that are cancelable without penalty. Recognition of purchase obligations occurs when products or services are delivered to Bio-Rad.

The annual future fixed and determinable portion of our purchase obligations that have not been recognized on our balance sheet as of December 31, 2021 are as follows: 2022 - $12.2 million, 2023 - $3.2 million, 2024 - $1.1 million, 2025 - $0.2 million, 2026 - $0 million and after 2026 - $0 million.

Long-Term Liabilities

As of December 31, 2021, we had obligations that have been recognized on our balance sheet of $124.8 million, which primarily represent recognized long-term obligations for other post-employment benefits as indicated below that are mostly due in more than 5 years, and long-term deferred revenue. Excluded are tax liabilities for uncertain tax positions and contingencies. We are not able to reasonably estimate the timing of future cash flows of these tax liabilities, therefore, our income tax obligations are excluded.

The annual future fixed and determinable portion of our obligations that have been recognized on our balance sheet as of December 31, 2021 were as follows: 2022 - $10.7 million, 2023 - $14.4 million, 2024 - $7.4 million, 2025 - $5.2 million, 2026 - $3.8 million and after 2026 - $83.3 million.

Letters of Credit/Guarantees

In the ordinary course of business, we are at times required to post letters of credit/guarantees.  The letters of credit/guarantees are issued by financial institutions to guarantee our obligations to various parties. We were contingently liable for $4.7 million of standby letters of credit/guarantees with financial institutions as of December 31, 2021.

Other Post-Employment Benefits
In several foreign locations we are statutorily required to provide retirement benefits or a lump sum termination indemnity to our employees upon termination for virtually any reason. These plans are accounted for as defined benefit plans and the associated net benefit obligation as of December 31, 2021 and 2020 of $76.1 million and $96.1 million, respectively, has been included in Accrued payroll and employee benefits and Other long-term liabilities in the Consolidated Balance Sheets. Most plans are not required to be funded, and as such, there is no trust or other device used to accumulate assets or settle these obligations. However, some of these plans require funding based on local laws in which there is a trust or other device administered by an external plan manager that is used to accumulate assets to assist in settling these obligations. The following disclosures include such plans, which are located in France, Switzerland, Germany, Korea, India, Thailand, Italy, Dubai and Japan.

Obligations and Funded Status
The following table sets forth the change in benefit obligations, fair value of plan assets and amounts recognized in the Consolidated Balance Sheets for the plans (in millions):
Change in benefit obligation:20212020
Benefit obligation at beginning of year$177.5$153.8
Service cost8.0 7.8 
Interest cost0.5 0.8 
Plan participants' contributions3.2 4.1 
Actuarial (gain) loss(10.2)5.3 
Gross benefits paid(0.7)(1.7)
Plan amendments(1.7)— 
Curtailments(3.3)— 
Settlements(9.5)(6.4)
Change attributable to foreign exchange(8.3)13.8 
Benefit obligation at end of year155.5 177.5 
Change in plan assets:
Fair value of plan assets at beginning year81.4 72.3 
Actual return on plan assets1.3 0.6 
Employer contributions4.3 4.1 
Plan participants' contributions3.2 4.0 
Gross benefits paid1.3 0.2 
Settlements(9.5)(6.4)
Change attributable to foreign exchange(2.6)6.6 
Fair value of plan assets at end of year79.4 81.4 
Underfunded status of plans$(76.1)$(96.1)
Amounts recognized in the consolidated balance sheets:
Current liabilities (Accrued payroll and employee benefits) $(2.3)$(1.3)
Noncurrent liabilities (Other long-term liabilities)(73.8)(94.8)
Net liability, end of fiscal year$(76.1)$(96.1)

Components of Net Periodic Benefit Cost
The following sets forth the net periodic benefit cost (income) for the periods indicated (in millions):
202120202019
Service costs$8.0$7.8$6.9
Interest costs0.5 0.8 1.5 
Expected returns on plan assets(1.0)(0.7)(1.2)
Amortization of actuarial losses1.8 1.3 1.0 
Curtailments(1.9)— — 
Settlements1.2 1.3 0.9 
Net periodic benefit costs$8.6$10.5$9.1
Assumptions

The above actuarial net gains were primarily based on financial, demographic and experience assumptions.

The weighted-average assumptions used in computing the benefit obligations are as follows:

20212020
Discount rate0.6 %0.3 %
Compensation rate increase1.5 %1.7 %

The weighted-average assumptions used in computing the net periodic benefit costs are as follows:
202120202019
Discount rate0.3 %0.5 %1.1 %
Expected long-term rate of return on plan assets1.1 %1.5 %1.8 %

The accumulated benefit obligation (ABO), an estimate based on the assumption if these plans were to be terminated immediately, as of December 31, 2021 and 2020 was $142.1 million and $159.5 million, respectively. The ABO and fair value of plan assets for these plans with ABO in excess of plan assets were $62.7 million and $78.1 million as of December 31, 2021 and 2020, respectively.

In some foreign locations we have service award plans that are paid based upon the number of years of employment. Under these plans, the liability as of December 31, 2021 and 2020 was $3.5 million and $4.1 million, respectively, and has been included in Accrued payroll and employee benefits and Other long-term liabilities in the Consolidated Balance Sheets.

Concentrations of Labor Subject to Collective Bargaining Agreements
At December 31, 2021, approximately seven percent of Bio-Rad's approximately 3,250 U.S. employees were covered by a collective bargaining agreement, which will expire on November 14, 2023.  Many of Bio-Rad's non-U.S. full-time employees, especially in France, are covered by collective bargaining agreements.
v3.22.0.1
13. Legal Proceedings
 12 Months Ended
Dec. 31, 2021
Legal Proceedings [Abstract]  
Legal Matters and Contingencies 13.    LEGAL PROCEEDINGSWe are a party to various claims, legal actions and complaints arising in the ordinary course of business. While we do not believe, at this time, that any ultimate liability resulting from any of these matters will have a material adverse effect on our results of operations, financial position or liquidity, we cannot give any assurance regarding the ultimate outcome of these matters and their resolution could be material to our operating results for any particular period, depending on the level of income for the period.
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14. Segment Reporting
 12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Segment Information 14. SEGMENT INFORMATION
Bio-Rad is a multinational manufacturer and worldwide distributor of its own life science research products and clinical diagnostics products. We have two reportable segments: Life Science and Clinical Diagnostics.  These reportable segments are strategic business lines that offer more than 12,000 different products and services and require different marketing strategies. We do not disclose quantitative information about our different products and services as it is impractical to do so based primarily on the numerous products and services that we sell and the global markets that we serve.

The Life Science segment develops, manufactures, sells and services reagents, apparatus and instruments used for biological research. These products are sold to university and medical school laboratories, pharmaceutical and biotechnology companies, food testing laboratories and government and industrial research facilities.

The Clinical Diagnostics segment develops, manufactures, sells and services automated test systems, informatics systems, test kits and specialized quality controls for the healthcare market. These products are sold to reference laboratories, hospital laboratories, state newborn screening facilities, physicians’ office laboratories and transfusion laboratories.

Other Operations include our Analytical Instruments segment, and a small miscellaneous operation that was included in a prior acquisition.

Segment results are presented in the same manner as we present our operations internally to make operating decisions and assess performance. The accounting policies of the segments are the same as those described in Significant Accounting Policies (see Note 1). Our chief operating decision maker ("CODM") views all operating expenses, interest expense and corporate overhead as directly supporting the strategies of our segments. As a result, starting in 2021 these costs are fully allocated to our reportable segments. Prior to this change, the difference between the total segment allocated interest expense, depreciation and amortization, and the corresponding consolidated amounts was attributable to our corporate headquarters. The historical segment information has been recast to conform to the current allocation methodology of corporate operating and other expenses to the segments. Interest expense is charged to segments based on the carrying amount of inventory and receivables employed by that segment. Segments are expected to manage only assets completely under their control.  Accordingly, segment assets include primarily accounts receivable, inventories and gross machinery and equipment. Goodwill balances have been included in corporate for segment reporting purposes.

Information regarding industry segments at December 31, 2021, 2020, and 2019 and for the years then ended is as follows (in millions):
Life
Science		Clinical
Diagnostics		Other
Operations
Segment net sales 2021$1,400.8 $1,515.9 $5.8 
 20201,231.8 1,305.2 8.6 
2019885.9 1,412.0 13.8 
Allocated interest expense2021$0.6 $1.0 $— 
20208.0 13.8 0.1 
20197.4 15.9 0.1 
Depreciation and amortization2021$32.5 $61.1 $1.6 
202032.8 65.1 1.0 
201929.4 71.7 0.9 
Segment profit (loss)2021$316.0 $173.0 $(1.1)
 2020271.8 117.0 0.3 
201972.1 148.5 (1.5)
Segment assets2021$588.2 $1,038.4 $16.8 
2020607.3 1,065.6 9.5 
Capital expenditures2021$12.8 $63.5 $7.6 
202016.8 43.6 3.1 

Net corporate operating expense consists of receipts and expenditures that are not the primary responsibility of segment operating management and therefore are not allocated to the segments for performance assessment by our chief operating decision maker. The following reconciles total segment profit to consolidated income before taxes (in millions):
Year Ended December 31,
 202120202019
Total segment profit$487.9 $389.1 $206.2 
Foreign currency exchange losses, net(2.8)(1.8)(2.2)
Change in fair market value of equity and debt securities4,926.2 4,495.8 2,031.0 
Other income, net26.8 24.5 26.1 
Consolidated income before income taxes$5,438.1 $4,907.6 $2,261.1 
The following reconciles total segment assets to consolidated total assets (in millions):
 December 31,
 20212020
Total segment assets$1,643.4 $1,682.4 
Cash, short-term investments and other current assets993.3 1,098.2 
Property, plant and equipment, net, and operating lease right-of-use
  assets, excluding segment specific balances48.2 52.7 
Goodwill, net347.3 291.9 
Other long-term assets14,743.6 9,847.4 
Total assets$17,775.8 $12,972.6 


The following presents net sales to external customers by geographic region based primarily on the location of the use of the product or service (in millions):
 Year Ended December 31,
 202120202019
Europe$946.9 $857.7 $770.3 
Asia688.4 546.5 505.0 
United States1,130.6 1,004.8 899.1 
Other (primarily Canada and Latin America)156.6 136.6 137.3 
Total net sales$2,922.5 $2,545.6 $2,311.7 

The following presents Property, plant and equipment, net, Operating lease right-of-use assets and Other assets, excluding deferred income taxes, by geographic region based upon the location of the asset (in millions):
 December 31,
 20212020
Europe$211.4 $208.6 
Asia64.9 53.3 
United States456.5 454.4 
Other (primarily Canada and Latin America)16.5 12.0 
Total Property, plant and equipment, net, Operating lease right-of-use assets and Other assets, excluding deferred income taxes$749.3 $728.3 
v3.22.0.1
15. Restructuring Costs (Notes)
 12 Months Ended
Dec. 31, 2021
Restructuring Costs [Abstract]  
Restructuring and Related Activities Disclosure [Text Block] RESTRUCTURING COSTSIn February 2021, we announced our strategy-driven restructuring plan in furtherance of our ongoing program to improve operating performance. The restructuring plan primarily impacts our operations in Europe and includes the elimination of certain positions, the consolidation of certain functions, and the relocation of certain manufacturing operations from Europe to Asia. The restructuring plan is being implemented in phases and is expected to be substantially complete by the end of 2022. The liability of $47.1 million as of December 31, 2021 consisted of $46.7 million recorded in Accrued payroll and employee benefits and $0.4 million recorded in Other long-term liabilities in the consolidated balance sheets. The amounts reflected in Cost of goods sold, Selling, general and administrative expense and Research and development expense were $25.0 million, $26.1 million and $13.3 million, respectively, in the consolidated statements of income for the year ended December 31, 2021. The adjustments to expense recorded were primarily due to changes in the estimates of employee termination benefits and employees resigning or transferring to different positions within the company.
The following table summarizes the activity of our European reorganization restructuring reserves for severance (in millions):
2021
Life ScienceClinical DiagnosticsTotal
Balances as of January 1$— $— $— 
Charged to expense - employee termination benefits12.9 62.7 75.6 
Adjustment to expense(3.3)(7.9)(11.2)
Cash payments(4.0)(10.2)(14.2)
Foreign currency translation gains(0.4)(2.7)(3.1)
Balances as of December 31$5.2 $41.9 $47.1 
v3.22.0.1
16. Leases (Notes)
 12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Lessee, Operating And Finance Leases
16.    LEASES

We have operating leases and to a lesser extent finance leases, for buildings, vehicles and equipment. Our leases have remaining lease terms of 1 year to 17 years, which includes our determination to exercise renewal options.

The components of lease expense were as follows (in millions):
Twelve Months Ended December 31,202120202019
Operating lease cost$53.2 $45.4 $51.4 
Finance lease cost:
  Amortization of right-to-use assets$0.5 $0.6 $0.6 
  Interest on lease liabilities0.8 0.8 0.9 
        Total finance lease cost$1.3 $1.4 $1.5 
Sublease income$3.0 $3.0 $3.0 

The sublease is for a building with a term that ends in 2025, with no options to extend or renew.

Operating lease cost includes original reduction in the carrying amount of right-of-use assets, the impact of remeasurements, modifications, impairments and abandonments.

Our short-term leases are expensed as incurred, reflecting leases with a lease term of one year or less, and are not significant for the years ended December 31, 2021, 2020 and 2019. Operating lease variable cost is primarily comprised of reimbursed actual common area maintenance, property taxes and insurance, which are immaterial for the years ended December 31, 2021, 2020 and 2019.
Supplemental cash flow information related to leases was as follows (in millions):
Twelve Months Ended December 31,202120202019
Cash paid for amounts included in the measurement of lease liabilities:
  Operating cash flows from operating leases$40.7 $44.4 $47.2 
  Operating cash flows from finance leases$0.5 $0.6 $0.9 
  Financing cash flows from finance leases$0.8 $0.8 $0.6 
Right-of-use assets obtained in exchange for lease obligations:
  Operating leases$45.5 $16.1 $28.7 
  Finance leases$— $0.4 $0.2 

Supplemental balance sheet information related to leases was as follows (in millions):
December 31, 20212020
Operating Leases
  Operating lease right-of-use assets$204.8 $202.1 
  Current operating lease liabilities$36.4 $36.5 
  Operating lease liabilities175.9 175.1 
     Total operating lease liabilities$212.3 $211.6 

Finance leases are included in Property, plant and equipment, Current maturities of long-term debt, and Long-term debt and notes payable, net of current maturities.
December 31,20212020
Finance Leases
  Property, plant and equipment, gross$11.8 $12.2 
  Less: accumulated depreciation and amortization(5.1)(5.0)
      Property, plant and equipment, net$6.7 $7.2 
  Current maturities of long-term debt and notes payable$0.5 $0.5 
  Long-term debt, net of current maturities10.5 11.0 
      Total finance lease liabilities$11.0 $11.5 
December 31, 20212020
Weighted Average Remaining Lease Term
  Operating leases - in years88
  Finance leases - in years15.516
Weighted Average Discount Rate
  Operating leases3.3 %3.9 %
  Finance leases6.3 %6.2 %
Maturities of lease liabilities were as follows (in millions):
Year Ending December 31,

Operating LeasesFinance Leases
2022$42.5 $1.2 
202339.1 1.1 
202432.6 1.2 
202529.1 1.1 
202624.0 1.1 
Thereafter79.5 13.0 
   Total lease payments246.8 18.7 
Less imputed interest(34.5)(7.7)
    Total$212.3 $11.0 

The value of our operating lease portfolio is principally for facilities with longer durations than the lesser value vehicles and other equipment with shorter terms and higher-turn over.
As of December 31, 2021, operating leases that have not commenced are not material.
v3.22.0.1
17. Quarterly Financial Data
 12 Months Ended
Dec. 31, 2021
Quarterly Financial Data [Abstract]  
Quarterly Financial Data [Text Block]
17. QUARTERLY FINANCIAL DATA (UNAUDITED)

Summarized quarterly financial data for the years ended December 31, 2021 and 2020 are as follows (in millions, except per share data):
First
Quarter		Second
Quarter		Third
Quarter		Fourth
Quarter
2021
Net sales$726.8 $715.9 $747.0 $732.8 
Gross profit$400.6 $401.6 $437.4 $401.0 
Net income (loss)$977.4 $914.1 $3,928.0 $(1,573.7)
Basic earnings (loss) per share$32.77 $30.71 $131.75 $(52.59)
Diluted earnings (loss) per share$32.38 $30.32 $129.96 $(52.59)
2020
Net sales$571.6 $536.9 $647.3 $789.8 
Gross profit$317.4 $293.0 $367.3 $460.1 
Net income $685.9 $966.4 $1,314.8 $839.2 
Basic earnings per share$22.97 $32.59 $44.24 $28.13 
Diluted earnings per share$22.72 $32.15 $43.64 $27.81 
v3.22.0.1
1. Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2021
Accounting Policies [Abstract]  
Basis of Presentation
Basis of Presentation

The consolidated financial statements include the accounts of Bio-Rad Laboratories, Inc. and all of our wholly and majority owned subsidiaries (referred to in this report as “Bio-Rad,” “we,” “us” and “our”) after elimination of intercompany balances and transactions.  The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes.  Actual results could differ from those estimates.

Variable Interest Entities

We enter into relationships with or make investments in other entities that may be variable interest entities ("VIE"). A VIE is consolidated in the financial statements if we are the primary beneficiary. The primary beneficiary has the power to direct activities that most significantly impact the economic performance of the VIE and has the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE.

In 2021, we extended a loan to a VIE, Sartorius-Herbst Beteiligungen II GmbH ("SHB"), a private limited company incorporated under the laws of Germany (See Note 3). We have not consolidated this entity because we do not have the power to direct the activities that most significantly impact the VIE’s economic performance related to repayment of the loan or cash management of the SHB and, thus, we are not considered the primary beneficiary of the VIE. We believe that our maximum exposure to loss as a result of our involvement with the VIE is limited to the receivable due to us from the VIE under the terms of the loan.
Cash and Cash Equivalents Cash and Cash EquivalentsCash and cash equivalents consist of cash and highly liquid investments with original maturities of three months or less which are readily convertible into cash.
Short-term Restricted Investments
Short-term Restricted Investments

Short-term restricted investments of $5.6 million at both December 31, 2021 and 2020 represent a money market fund that is provided as collateral to secure worker's compensation and general liability insurance.
Available-for-sale Investments
Available-for-Sale Investments

Available-for-sale investments consist of corporate obligations, municipal securities, asset backed securities and U.S. government sponsored agencies. Management classifies investments at the time of purchase and reevaluates such classification at each balance sheet date. Investments with maturities beyond one year may be classified as short-term based on their liquid nature and because such marketable securities represent the investment of cash that is available for current operations. Available-for-sale investments are reported at fair value based on quoted market prices and other observable market data. Unrealized gains and losses are reported as a component of other comprehensive income, net of any related tax effect. On January 1, 2020, we adopted Accounting Standards Update (ASU) 2016-13, "Measurement of Credit Losses on Financial Instruments." In accordance with the adopted guidance, we replaced the incurred loss approach with an expected loss model for instruments measured at amortized cost and record allowances for available-for-sale debt securities rather than to reduce the carrying amount for other-than-temporary impairment as was followed under the other-than-temporary impairment model prior to January 1, 2020. Realized gains and losses and other-than-temporary impairments on investments are included in Other income and expense, net (see Note 10).
Concentration of Credit Risk
Concentration of Credit Risk

Financial instruments that potentially subject us to concentration of credit risk consist primarily of cash and cash equivalents, investments, foreign exchange contracts, trade accounts receivable and loans receivable.  Cash and cash equivalents and investments are placed with various highly rated major financial institutions located in different geographic regions.

The forward contracts used in managing our foreign currency exposures have an element of risk in that the counterparties may be unable to meet the terms of the agreements.  We attempt to minimize this risk by limiting the counterparties to a diverse group of highly-rated domestic and international financial institutions.  In the event of non-performance by these counterparties, the carrying values of our financial instruments represent the maximum amount of loss we would have incurred as of our fiscal year-end.  

Credit risk for trade accounts receivable is generally limited due to the large number of customers and their dispersion across many geographic areas. We manage our accounts receivable credit risk through ongoing credit evaluation of our customers' financial conditions. We generally do not require collateral from our customers.
Loans receivable represent the Loan extended to SHB and is collateralized by the pledge of certain trust interests under the Sartorius family trust ("Trust"), which upon termination of the Trust represent the right to receive Sartorius ordinary shares. The collateral is subject to market volatility based on fluctuation in value of the Sartorius ordinary shares.
Accounts Receivable
Accounts Receivable and Allowance for Doubtful Accounts

We record trade accounts receivable at the net invoice value and such receivables are non-interest bearing. We consider receivables past due based on the contractual payment terms. Amounts later determined and specifically identified to be uncollectible are charged or written off against the allowance for doubtful accounts.

Any adjustments made to our historical loss experience reflect current differences in asset-specific risk characteristics, including, for example, accounts receivable by customer type (public or government entity versus private entity) and by geographic location of the customer.

Changes in our allowance for doubtful accounts were as follows (in millions):
December 31,202120202019
Beginning balance$19.8 $20.2 $26.7 
Provision for expected credit losses (2021, 2020), bad debt (reversal) (2019)1.41.2 (1.2)
Write-offs charged against the allowance(6.4)(1.6)(6.6)
Recoveries collected0.3 — 1.3 
Ending balance$15.1 $19.8 $20.2 
Inventory
Inventory

Inventories are valued at the lower of cost and net realizable value and include material, labor and overhead costs. Cost is determined using standard costs, which approximate actual costs, and are relieved from inventory on a first-in, first-out or average cost basis. We classify our inventories based on our historical and anticipated levels of sales; any inventory in excess of its normal operating cycle (1 – 3 years depending on our product line) is classified as long-term on our consolidated balance sheets. The long-term inventory was immaterial as of December 31, 2021 and 2020.
Property, Plant and Equipment
Property, Plant and Equipment

Property, plant and equipment are stated at cost, less accumulated depreciation and amortization.  Additions and improvements are capitalized, and maintenance and repairs are expensed as incurred. Included in property, plant and equipment are buildings and equipment acquired under capital lease arrangements, reagent rental equipment and capitalized software, including costs for software developed or obtained for internal use.

Depreciation is computed on a straight-line basis over the estimated useful lives of the assets.  The estimated useful lives of property, plant and equipment are generally as follows: buildings, 10-50 years; leasehold improvements, the life of the improvements or the term of the lease, whichever is shorter; reagent rental equipment, 1-5 years; equipment, 3-12 years; and computer software, 3-5 years.

When property and equipment is retired or otherwise disposed of, the cost and accumulated depreciation are relieved from the accounts and the net gain or loss is included in operating expenses.
Leases
Leases

We determine if an arrangement is a lease at inception. Operating leases are included in Operating lease right-of-use (“ROU”) assets, Current operating lease liabilities, and Operating lease liabilities in our Consolidated Balance Sheets. Finance leases are included in Property, plant and equipment, Current maturities of long-term debt, and Long-term debt, net of current maturities in our Consolidated Balance Sheets.
ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. As our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. Operating lease ROU assets also include any lease payments made and excludes lease incentives. Our lease terms may include options to extend or terminate the lease. For purposes of determining the lease term used in the measurement of operating lease ROU assets and operating lease liabilities, we include the noncancellable period of the lease together with those periods covered by the option to extend the lease if we are reasonably certain to exercise that option, the periods covered by an option to terminate the lease if we are reasonably certain not to exercise that option, and the periods covered by the option to extend (or to not terminate) the lease in which exercise of the option is controlled by the lessor. Lease expense is recognized on a straight-line basis over the lease term. Where we act as lessee, we elected not to separate lease and non-lease components.
Lessor, Leases For our reagent rental contracts, which are classified as operating leases and we act as a lessor, are more fully described below under the caption "Reagent Rental Agreements."
Goodwill
Impairment of Goodwill

Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in each business combination. We conduct an impairment analysis for goodwill annually in the fourth quarter or more frequently if indicators of impairment exist or if a decision is made to sell or exit a business. Significant judgments are involved in determining if an indicator of impairment has occurred. Such indicators may include deterioration in general economic conditions, negative developments in equity and credit markets, adverse changes in the markets in which an entity operates, increases in input costs that have a negative effect on earnings and cash flows, or a trend of negative or declining cash flows over multiple periods, among others. The fair value that could be realized in an actual transaction may differ from that used to evaluate the impairment of goodwill.

We first may assess qualitative factors to determine if it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the quantitative goodwill impairment test included in U.S. GAAP. To the extent our assessment identifies adverse conditions, or if we elect to bypass the qualitative assessment, goodwill is tested at the reporting unit level using a quantitative impairment test.

In conjunction with our annual impairment assessment for 2021, we reassessed the reporting units based on changes resulting from internal reorganization and alignment, restructuring activities and changes in reporting structures. After our evaluation, we concluded on two reporting units, which are the operating segments, Life Science and Clinical Diagnostics. We elected to perform a qualitative assessment of goodwill and determined that it is not more likely than not that the fair values of our reporting units are less than their carrying amounts and that goodwill is not impaired for any of our reporting units.
Impairment of Indefinite-Lived Intangible AssetsFor indefinite-lived intangible assets such as in-process research and development, we conduct an impairment analysis annually in the fourth quarter or more frequently if indicators of impairment exist. We first perform a qualitative assessment to determine if it is more likely than not that the carrying amount of each of the in-process research and development assets exceeds its fair value. The qualitative assessment requires the consideration of factors such as recent market transactions, macroeconomic conditions, and changes in projected future cash flows. If we determine it is more likely than not that the fair value is less than its carrying amount of the in-process research and development assets, a quantitative assessment is performed. The quantitative assessment compares the fair value of the in-process research and development assets to its carrying amount. If the carrying amount exceeds its fair value, an impairment loss is recognized for the excess. We elected to perform a qualitative assessment of indefinite-lived intangible assets and determined that it is not more likely than not that the fair value is less than its carrying amount and that in-process research and development are not impaired.
Long-Lived Assets
Impairment of Long-Lived Assets

We review long-lived assets, such as property, plant and equipment and finite-lived intangible assets, for impairment whenever events indicate that the carrying amounts might not be recoverable. Recoverability of property, plant and equipment, and other finite-lived intangible asset is measured by comparing the projected undiscounted net cash flows associated with those assets to their carrying values. If an asset is considered impaired, it is written down to its fair value, which is determined based on the asset's projected discounted cash flows or appraised value, depending on the nature of the asset. For purposes of recognition of impairment for assets held for use, we group assets and liabilities at the lowest level for which cash flows are separately identifiable.

There were no impairments of finite-lived intangible assets for the years ended December 31, 2021, 2020 and 2019.
Income Taxes
Income Taxes
We account for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities reflect the tax effects of net operating losses, tax credits, and temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. They are determined using enacted tax rates in effect for the year in which such temporary differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date.

We record deferred tax assets to the extent we believe these assets will more likely than not be realized. In making such determination, we consider all available positive and negative evidence, including scheduled reversals of deferred tax liabilities, projected future taxable income, tax planning strategies and recent financial operations. When we establish or reduce the valuation allowance against our deferred tax assets, our provision for income taxes will increase or decrease, respectively, in the period that determination to change the valuation allowance is made.

We recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities based on the technical merits of the position. The tax benefits recognized in the financial statements on a particular tax position are measured based on the largest benefit that has a greater than a 50% likelihood of being realized upon settlement. The amount of unrecognized tax benefits is adjusted as appropriate for changes in facts and circumstances, such as significant amendments to existing tax law, new regulations or interpretations by the taxing authorities, new information obtained during a tax examination, or resolution of an examination. We recognize both accrued interest and penalties, where appropriate, related to unrecognized tax benefits in the provision for income taxes.
Revenue Recognition
Revenue Recognition

We recognize revenue from operations through the sale of products, services, license of intellectual property and rental of instruments. Revenue from contracts with customers is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration we expect to receive in exchange for those products or services. We enter into contracts that can include various combinations of products and services, which are generally accounted for as distinct performance obligations. Revenue is recognized net of any taxes collected from customers (sales tax, value added tax, etc.), which are subsequently remitted to government authorities.
Our contracts from customers often include promises to transfer multiple products and services to a customer. Determining whether products and services are considered distinct performance obligations that should be accounted for separately versus together may require significant judgment, and may or may not impact the timing of revenue recognition. Revenue associated with equipment that requires factory installation is not recognized until installation is complete and customer acceptance, if required, has occurred. Certain equipment requires installation due to the fact that the instruments are being operated in a clinical/laboratory environment, and the installation services could result in modification of the equipment in order to ensure that the instruments are working according to customer specifications, which are subject to validation tests upon completion of the installation. In these arrangements, which require factory installation, the delivery of the equipment and the installation are separate performance obligations. We will recognize the transaction price allocated to the equipment only upon customer acceptance, as the transfer of control in relation to the equipment has occurred at that point as the customer has the ability to direct the use of and obtain substantially all of the remaining benefits from the asset. The transaction price allocated to the installation services is also recognized upon customer acceptance because without the completion of the installation services and related customer acceptance the customer cannot receive any of the benefits of the service.

At the time revenue is recognized, a provision is recorded for estimated product returns as this right is considered variable consideration. Accordingly, when product revenues are recognized, the transaction price is reduced by the estimated amount of product returns.

Service revenues on extended warranty contracts are recognized ratably over the life of the service agreement as a stand-ready performance obligation. For arrangements that include a combination of products and services, the transaction price is allocated to each performance obligation based on stand-alone selling prices. The method used to determine the stand-alone selling prices for product and service revenues is based on the observable prices when the product or services have been sold separately.

We recognize revenues for a functional license of intellectual property at a point in time when the control of the license and technology transfers to the customer. For license agreements that include sales or usage-based royalty payments to us, we recognize revenue at the later of (i) when the related sale of the product occurs, or (ii) when the performance obligation to which some or all of the royalty has been allocated has been satisfied, or partially satisfied.

The primary purpose of our invoicing terms is to provide customers with simple and predictable methods of purchasing our products and services, not to either provide or receive financing to or from our customers. We record contract liabilities when cash payments are received or due in advance of our performance.

We do not disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less. Our payment terms vary by the type and location of our customer, and the products and services offered. The term between invoicing and when payment is due is not significant.

In the third quarter of fiscal year 2021, we received approximately $32.5 million related to a settlement of an intellectual property litigation for sales of products infringing on our patents during the period from November 2018 through July 2021. Of the total amount, we recognized $31.6 million as revenue, based on the estimated stand-alone royalty rate associated with the infringed patents and is included as part of Net sales in our consolidated statements of income.

In the fourth quarter of fiscal year 2020, we received $35.3 million in court awarded damages related to an intellectual property litigation for sales of products infringing on our patents during 2015 to 2018. Of the total amount, we recognized $32.3 million as revenue upon receipt of the damages based on the estimated stand-alone royalty rate associated with the infringed patents and is included as part of Net sales in our consolidated statements of income.
Revenue Recognition, Leases
Reagent Rental Agreements
Reagent rental agreements are primarily a diagnostic industry sales method that provides use of an instrument and consumables (reagents) to a customer on a per test basis. These agreements may also include maintenance of the instruments placed at customer locations as well as initial training. We initially determine if a reagent rental arrangement contains a lease at contract commencement. Where we have determined that such an arrangement contains a lease, we next must ascertain its lease classification for purposes of applying appropriate accounting treatment as an operating, sales-type or direct financing lease. For purposes of determining the lease term used in performing the lease classification test, we include the noncancellable period of the lease together with those periods covered by the option to extend the lease if the customer is reasonably certain to exercise that option, the periods covered by an option to terminate the lease if the customer is reasonably certain not to exercise that option, and the periods covered by the option to extend (or not to terminate) the lease in which exercise of the option is controlled by the Company. The assessment of the lease term for reagent rental agreements, including the impact from any associated contractual termination penalties, are subject to an estimation process. While most of our reagent rental arrangements contain either the option for a lessee to extend and/or cancel, the period in which the contract is enforceable is a very short period and therefore the lease term has been limited to the noncancellable period. Generally, these arrangements do not contain an option for the lessee to purchase the underlying asset.

We concluded that the use of the instrument (referred to as “lease elements”) is not within the guidance of ASC 606 but rather ASC 842. Accordingly, we first allocate the transaction price between the lease elements and the non-lease elements based on relative standalone selling prices. The determination of the transaction price requires judgment and consideration of any fixed/minimum payments as well as estimates of variable consideration. After allocation, the amount of variable payments allocated to lease components will be recognized as income under ASC 842, while the amount of variable payments allocated to non-lease components will be recognized as income in accordance with ASC 606.

Maintenance services, along with the reagents, are allocated to the non-lease elements and are recognized as income. Generally, the terms of the arrangements result in the transfer of control for reagents upon either (i) when the consumables are delivered or (ii) when the consumables are consumed by the customer.

Our reagent rental arrangements are predominantly comprised of variable lease payments that fluctuate depending on the volume of reagents purchased, as very few of such arrangements contain any fixed/minimum lease payments. Further, our reagent rental arrangements are predominantly classified as operating leases, and any sales-type leases represent in aggregate an immaterial amount of lease income. Our reported lease income is primarily variable in nature and is recognized upon delivery or as the reagents are consumed by the customer.

Revenue allocated to the lease elements of these reagent rental arrangements represented approximately 2% of total revenue at December 31, 2021, and 3% at both December 31, 2020 and 2019, respectively and are included as part of the Net sales in our consolidated statements of income.
Contract costs:
As a practical expedient, we expense as incurred costs to obtain contracts as the amortization period would have been one year or less. These costs include our internal sales force and certain partner sales incentive programs and are recorded within Selling, general and administrative expense in our consolidated statements of income.
Disaggregation of Revenue:
The disaggregation of our revenue by geographic region is based primarily on the location of the use of the product or service, and by industry segment sources. The disaggregation of our revenues by industry segment sources are presented in our Segment Information footnote (see Note 14).
Revenue Recognition, Deferred Revenue Deferred revenues primarily represent unrecognized fees billed or collected for extended service arrangements. The deferred revenue balance at December 31, 2021 and December 31, 2020 was $71.0 million and $60.0 million, respectively. The short-term deferred revenue balance at December 31, 2021 and December 31, 2020 was $50.9 million and $42.5 million, respectively.
Warranty
Warranty liabilities are included in Other current liabilities and Other long-term liabilities in the consolidated balance sheets. Change in our warranty liability were as follows (in millions):
202120202019
January 1$9.8 $9.0 $10.1 
Provision for warranty14.8 9.4 9.9 
Actual warranty costs(11.9)(8.6)(11.0)
December 31$12.7 $9.8 $9.0 
Shipping and Handling
Shipping and Handling

We classify all freight costs billed to customers as Net sales.  Related freight costs are recognized upon transfer of control of the promised products to customers as a fulfillment cost and included in Cost of goods sold.
Research and Development Expense Research and DevelopmentAll research and development costs are expensed as incurred. Types of expense incurred in research and development include materials and supplies, employee compensation, consulting and third-party services, depreciation, facility costs and information technology.
Foreign Currency
Foreign Currency

Balance sheet accounts of international subsidiaries are translated at the current exchange rates as of the end of each accounting period.  Income statement items are translated at average exchange rates for the period.  The resulting translation adjustments are recorded as a separate component of stockholders’ equity.

Foreign currency transaction gains and losses are included in Foreign exchange losses, net in the consolidated statements of income.  Transaction gains and losses result primarily from fluctuations in exchange rates when intercompany receivables and payables are denominated in currencies other than the functional currency of our subsidiary that recorded the transaction.
Forward Foreign Exchange Contracts Forward Foreign Exchange ContractsAs part of distributing our products, we regularly enter into intercompany transactions.  We enter into forward foreign exchange contracts to manage foreign exchange risk of future movements in exchange rates that affect foreign currency denominated intercompany receivables and payables.  We do not use derivative financial instruments for speculative or trading purposes, nor do we seek hedge accounting treatment for any of our contracts. As a result, these contracts, generally with maturity dates of 90 days or less and denominated primarily in currencies of industrial countries, are recorded as an asset or liability measured at their fair value at each balance sheet date. The resulting gains or losses offset exchange gains or losses, on the related receivables and payables, all of which are recorded in Foreign exchange losses, net in the consolidated statements of income. We classify the proceeds from (payments for) forward foreign exchange contracts as cash flows from operating activities in our consolidated statements of cash flows.
Share-based Compensation Plans
Share-Based Compensation Plans

Share-based compensation expense for all share-based payment awards granted is determined based on the grant-date fair value.  We recognize these compensation costs over the requisite service period of the award, which is generally the vesting term of the share-based payment awards.  Forfeitures are recognized as they occur.  These plans are described more fully in Note 9.
Earnings Per Share
Earnings Per Share

Basic earnings per share is computed by dividing net income attributable to Bio-Rad by the weighted average number of common shares outstanding for that period.  Diluted earnings per share takes into account the effect of dilutive instruments, such as stock options and restricted stock, and uses the average share price for the period in determining the number of potential common shares that are to be added to the weighted average number of shares outstanding.  Potential common shares are excluded from the diluted earnings per share calculation if the effect of including such securities would be anti-dilutive.

The weighted average number of common shares outstanding used to calculate basic and diluted earnings per share, and the anti-dilutive shares that are excluded from the diluted earnings per share calculation are as follows (in thousands):
 Year Ended December 31,
 202120202019
Basic weighted average shares outstanding29,831 29,768 29,843 
Effect of potentially dilutive stock options   
    and restricted stock awards377 392 341 
Diluted weighted average common shares30,208 30,160 30,184 
Anti-dilutive stock options and restricted stock awards
    excluded from the computation of diluted EPS33 44 98 
Fair Value of Financial Instruments
Fair Value of Financial Instruments

For certain financial instruments, including cash and cash equivalents, short-term investments, accounts receivable, marketable securities, notes payable, accounts payable and foreign exchange contracts, the carrying amounts approximate fair value.

The estimated fair value of financial instruments is based on the exchange price that would be received for an asset or paid to transfer a liability (an exit price) using available market information or other appropriate valuation methodologies in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants.  Estimates are not necessarily indicative of the amounts that could be realized in a current market exchange as considerable judgment is required in interpreting market data used to develop estimates of fair value.  The use of different market assumptions or estimation techniques could have a material effect on the estimated fair value (see Note 3).
New Accounting Pronouncements
Recent Accounting Pronouncements Adopted

In March 2020, the FASB issued ASU No. 2020-04, "Facilitation of the Effects of Reference Rate Reform on Financial Reporting." The ASU provides optional expedients and exceptions for applying GAAP to transactions affected by reference rate (e.g., LIBOR) reform if certain criteria are met, for a limited period of time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. The ASU is effective as of March 12, 2020 through December 31, 2022. We will evaluate transactions or contract modifications occurring as a result of reference rate reform and determine whether to apply the optional guidance on an ongoing basis. The ASU has not and is currently not expected to have a material impact on our consolidated financial statements.

In January 2020, the FASB issued ASU 2020-01, "Clarifying the Interactions between Topic 321 Investments—Equity Securities, Topic 323 Investments—Equity Method and Joint Ventures, and Topic 815 Derivatives and Hedging." ASU 2020-01 clarifies that a company should consider observable transactions that require a company to either apply or discontinue the equity method of accounting under Topic 323 for the purposes of applying the measurement alternative in accordance with Topic 321 immediately before applying or upon discontinuing the equity method. ASU 2020-01 also clarifies that, when determining the accounting for certain forward contracts and purchased options a company should not consider, whether upon settlement or exercise, if the underlying securities would be accounted for under the equity method or fair value option. ASU 2020-01 was effective for fiscal years beginning after December 15, 2020. The adoption of ASU 2020-01 did not have a material impact on our consolidated financial statements.
In December 2019, the FASB issued ASU 2019-12, "Simplifying the Accounting for Income Taxes," which
eliminates certain exceptions within ASC 740, Income Taxes, and clarifies other aspects of the current guidance to
promote consistency among reporting entities. ASU 2019-12 was effective for fiscal years beginning after
December 15, 2020, with any adjustments reflected as of January 1, 2021. The adoption of ASU 2019-12 did not have a material impact on our consolidated financial statements.

Recent Accounting Pronouncements to be Adopted

In November 2021, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2021-10, "Government Assistance." The ASU includes tax credits but not within Topic 740, "Income Taxes," cash grants, grants of other assets and project grants. The ASU excludes transactions in which a government is a customer within Topic 606, "Revenue from Contracts with Customers." The ASU will be effective for fiscal years beginning after December 15, 2021, with early adoption permitted. We will not early adopt this ASU. We are currently evaluating the effect of adopting this pronouncement on our financial statements and disclosures.
In October 2021, the FASB issued ASU 2021-08, "Accounting for Contract Assets and Contract Liabilities from Contracts with Customers." ASU 2021-08 requires an acquirer in a business combination to recognize and measure contract assets and contract liabilities (deferred revenue) from acquired contracts using the revenue recognition guidance in Topic 606. Under this approach, the acquirer applies the revenue model as if it had originated the contracts. This is a departure from the current requirement to measure contract assets and contract liabilities at fair value. ASU 2021-08 is applied to business combinations occurring on or after January 1, 2023. We early adopted ASU 2021-08 on January 1, 2022.
Goodwill and Intangible Assets, Intangible Assets, Policy
Intangible Assets

Our intangible assets principally include goodwill, acquired technology / know how, license, tradenames, customer relationships, and in-process research and development. Intangible assets with finite lives, which include acquired technology / know how, tradenames, licenses and customer relationships, are carried at cost and amortized using the straight-line method over their estimated useful lives.
The estimated useful lives used in computing amortization of intangible assets are as follows:

Customer relationships/lists 4 – 16 years
Know how 14 years
Developed product technology 2 – 20 years
Licenses 12 – 13 years
Tradenames 6 – 15 years
Covenants not to compete 3 – 10 years

Intangible assets with indefinite lives, which include only goodwill and in-process research and development assets, are recorded at cost and evaluated at least annually for impairment.
Equity Method Investments
Equity Investments

Investments in publicly traded companies in which we do not have the ability to exercise significant influence are reported at fair value, with unrealized gains and losses reported as a component of change in fair market value of equity and debt securities in our consolidated statements of income. Companies in which we do not have a controlling financial interest, but over which we have significant influence, are accounted for using the equity method. Our share of the after-tax earnings of equity method investees is included in other income, net in our consolidated statements of income. Investments in privately held companies in which we do not have the ability to exercise significant influence are accounted for using the cost method with adjustments for observable changes in price or impairments (see Note 3). We monitor our relationships with investees when changes occur that could affect whether we have the ability to exercise significant influence.
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1. Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2021
Accounting Policies [Abstract]  
Schedule of Product Warranty Liability
Warranty liabilities are included in Other current liabilities and Other long-term liabilities in the consolidated balance sheets. Change in our warranty liability were as follows (in millions):
202120202019
January 1$9.8 $9.0 $10.1 
Provision for warranty14.8 9.4 9.9 
Actual warranty costs(11.9)(8.6)(11.0)
December 31$12.7 $9.8 $9.0 
Schedule of Weighted Average Number of Shares
The weighted average number of common shares outstanding used to calculate basic and diluted earnings per share, and the anti-dilutive shares that are excluded from the diluted earnings per share calculation are as follows (in thousands):
 Year Ended December 31,
 202120202019
Basic weighted average shares outstanding29,831 29,768 29,843 
Effect of potentially dilutive stock options   
    and restricted stock awards377 392 341 
Diluted weighted average common shares30,208 30,160 30,184 
Anti-dilutive stock options and restricted stock awards
    excluded from the computation of diluted EPS33 44 98 
Accounts Receivable, Allowance for Credit Loss
Changes in our allowance for doubtful accounts were as follows (in millions):
December 31,202120202019
Beginning balance$19.8 $20.2 $26.7 
Provision for expected credit losses (2021, 2020), bad debt (reversal) (2019)1.41.2 (1.2)
Write-offs charged against the allowance(6.4)(1.6)(6.6)
Recoveries collected0.3 — 1.3 
Ending balance$15.1 $19.8 $20.2 
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Business Combinations (Tables)
 3 Months Ended
Dec. 31, 2021
Jun. 30, 2020
Business Combinations [Abstract]    
Schedule of Business Acquisitions, by Acquisition  
The fair value of consideration transferred for the Celsee acquisition consists of the following (in millions):

Purchase price (cash)$99.2 
Fair value of contingent consideration (earn-out)0.1 
Fair value of total consideration transferred$99.3 
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
The following table summarizes the final fair values of the assets acquired and liabilities assumed at the Acquisition Date (in millions):

Fair Value
Intangible assets$83.6 
Deferred tax assets5.6 
Deferred tax liabilities(19.5)
Other identifiable assets acquired, net0.4 
Net identifiable assets acquired70.1 
Goodwill55.4 
Net assets acquired$125.5 
 The following table summarizes the final fair values of the assets acquired and liabilities assumed at the Acquisition Date (in millions):
Fair Value
Cash and cash equivalents$0.6 
Intangible assets79.9 
Deferred tax assets8.4 
Deferred tax liabilities(19.7)
Other identifiable assets acquired, net0.3 
Net identifiable assets acquired69.5 
Goodwill29.8 
Net assets acquired$99.3 
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination
The following table summarizes the final fair values and estimated useful life of the components of identifiable intangible assets acquired as of the Acquisition Date (in millions):

Fair ValueEstimated Useful Life (years)
Covenants not to compete$1.9 4.7
In-process research and development81.7 
Total identifiable intangible assets acquired$83.6 
The following table summarizes the final fair values and estimated useful lives of the components of identifiable intangible assets acquired as of the Acquisition Date (in millions):

Fair ValueEstimated Useful Life (years)
Developed product technology$70.3 18.9
Customer relationships3.6 4.0
Covenants not to compete1.4 3.0
In-process research and development4.6 
Total identifiable intangible assets acquired$79.9 
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3. Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Fair Value Disclosures [Abstract]    
Debt Securities, Available-for-sale [Table Text Block] Available-for-sale investments consist of the following (in millions):
 December 31, 2021
Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Allowances for Credit LossesEstimated
Fair
Value
Short-term investments:    
Corporate debt securities$181.9 $0.5 $(0.2)— $182.2 
Municipal obligations9.0 — — — 9.0 
Asset-backed securities87.5 0.1 (0.2)— 87.4 
U.S. government sponsored agencies44.3 — — — 44.3 
Foreign government obligations1.0 — — — 1.0 
  Other foreign obligations 3.8 — — — 3.8 
 327.5 0.6 (0.4)— 327.7 
Long-term investments:    
Asset-backed securities— — — — — 
 — — — — — 
Total$327.5 $0.6 $(0.4)$— $327.7 
Available-for-sale investments consist of the following (in millions):
 December 31, 2020
Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Estimated
Fair
Value
Short-term investments:    
Corporate debt securities$130.5 $2.7 $— $133.2 
Municipal obligations15.0 0.2 — 15.2 
Asset-backed securities35.8 0.3 — 36.1 
U.S. government sponsored agencies74.7 2.2 — 76.9 
Foreign government obligations4.0 — — 4.0 
  Other foreign obligations2.1 — — 2.1 
 262.1 5.4 — 267.5 
Long-term investments:    
Asset-backed securities0.1 — — 0.1 
 0.1 — — 0.1 
Total$262.2 $5.4 $— $267.6 
Summary of amortized cost and estimated fair value of debt securities by contractual maturity date
The following is a summary of the amortized cost and estimated fair value of our debt securities at December 31, 2021 by contractual maturity date (in millions):
Amortized
Cost		Estimated Fair
Value
Mature in less than one year$135.5 $135.5 
Mature in one to five years153.7 153.9 
Mature in more than five years38.3 38.3 
Total$327.5 $327.7 
  
Summary of investments with gross unrealized losses and the associated fair value There were no significant unrealized losses as of December 31, 2021 and December 31, 2020 in either the less than or greater than 12 month categories.  
Schedule of Derivative Instruments [Table Text Block]
The following is a summary of our forward foreign currency exchange contracts (in millions):
 December 31,
 2021
Contracts maturing in January through March 2022 to sell foreign currency: 
Notional value$125.0 
Unrealized gain/(loss)$1.0 
Contracts maturing in January through March 2022 to purchase foreign currency: 
Notional value$453.1 
Unrealized gain/(loss)$(2.1)
  
Fair Value Measurements, Recurring and Nonrecurring Financial assets and liabilities carried at fair value and measured on a recurring basis as of December 31, 2021 are classified in the hierarchy as follows (in millions):
Level 1Level 2Level 3Total
Financial assets carried at fair value:   
Cash equivalents:   
Commercial paper$— $39.8 $— $39.8 
Time deposits7.2 10.1 — 17.3 
Asset-backed securities— 0.1 — 0.1 
Foreign Govt Obligations— 0.8 — 0.8 
Municipals obligations— 0.3 — 0.3 
U.S. government sponsored agencies— 33.6 — 33.6 
Money market funds50.7 — — 50.7 
Total cash equivalents (a)57.9 84.7 — 142.6 
Restricted investments (b)6.9 — — 6.9 
Equity Securities (c)13,977.5 — — 13,977.5 
Loan under the fair value option (d)— — 443.1 443.1 
Available-for-sale investments:
Corporate debt securities— 182.3 — 182.3 
U.S. government sponsored agencies— 44.3 — 44.3 
Foreign government obligations— 1.0 — 1.0 
Other foreign obligations— 3.8 — 3.8 
Municipal obligations— 9.0 — 9.0 
Asset-backed securities— 87.3 — 87.3 
Total available-for-sale investments (e)— 327.7 — 327.7 
Forward foreign exchange contracts (f)— 1.7 — 1.7 
Total financial assets carried at fair value$14,042.3 $414.1 $443.1 $14,899.5 
Financial liabilities carried at fair value:   
     Forward foreign exchange contracts (g)$— $2.8 $— $2.8 

Financial assets and liabilities carried at fair value and measured on a recurring basis as of December 31, 2020 are classified in the hierarchy as follows (in millions):
Level 1Level 2Level 3Total
Financial assets carried at fair value:   
Cash equivalents:   
Commercial paper$— $41.7 $— $41.7 
Time deposits17.6 10.0 — 27.6 
Asset-backed securities— 0.9 — 0.9 
U.S. government sponsored agencies— $2.5 — 2.5 
Money market funds60.1 — — 60.1 
Total cash equivalents (a)77.7 55.1 — 132.8 
Restricted investments (b)6.7 — — 6.7 
Equity securities (c)9,582.4 — — 9,582.4 
Available-for-sale investments:   
Corporate debt securities— 133.2 — 133.2 
U.S. government sponsored agencies— 76.9 — 76.9 
Foreign government obligations— 4.0 — 4.0 
Other foreign obligations— 2.1 — 2.1 
Municipal obligations— 15.2 — 15.2 
Asset-backed securities— 36.2 — 36.2 
Total available-for-sale investments (e)— 267.6 — 267.6 
Forward foreign exchange contracts (f)— 1.0 — 1.0 
Total financial assets carried at fair value$9,666.8 $323.7 $— $9,990.5 
Financial liabilities carried at fair value:   
Forward foreign exchange contracts (g)$— $1.0 $— $1.0 
 Contingent consideration (h)— — 0.7 0.7 
Total financial liabilities carried at fair value$— $1.0 $0.7 $1.7 

(a) Cash equivalents are included in Cash and cash equivalents in the consolidated balance sheets.

(b) Restricted investments are included in the following accounts in the consolidated balance sheets (in millions):
December 31, 2021December 31, 2020
Restricted investments$5.6 $5.6 
Other investments1.31.1 
   Total$6.9 $6.7 


(c) Equity securities are included in the following accounts in the consolidated balance sheets (in millions):
December 31, 2021December 31, 2020
Short-term investments$71.4 $61.4 
Other investments13,906.1 9,521.0 
   Total$13,977.5 $9,582.4 
(d) The Loan under the fair value option is included in Other investments in the consolidated balance sheets.

(e) Available-for-sale investments are included in the following accounts in the consolidated balance sheets (in millions):
 December 31,
2021		December 31, 2020
Short-term investments$327.7 $267.5 
Other investments— 0.1 
Total$327.7 $267.6 


(f) Forward foreign exchange contracts in an asset position are included in other current assets in the consolidated balance sheets.

(g) Forward foreign exchange contracts in a liability position are included in other current liabilities in the consolidated balance sheets.

(h) Contingent consideration liabilities in a liability position are included in the other long-term liabilities in the consolidated balance sheets.
  
Debt Securities, Trading, and Equity Securities, FV-NI
The following table provides a reconciliation of the Level 3 Loan measured at estimated fair value (in millions):

December 31, 2020$— 
Purchases$453.4 
Net decrease in estimated fair value of the Loan included in Change in fair value of equity and debt securities$(10.3)
Settlements$— 
December 31, 2021$443.1 
  
v3.22.0.1
4. Intangible Assets, Goodwill and Other (Tables)
 12 Months Ended
Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Changes to goodwill by segment
Changes to goodwill by segment were as follows (in millions):
 20212020
Life
Science		Clinical
Diagnostics		TotalLife
Science		Clinical
Diagnostics		Total
Balances as of January 1:      
Goodwill$277.9 $349.2 $627.1 $250.1 $349.2 $599.3 
Accumulated impairment losses and write-offs(41.8)(293.4)(335.2)(41.8)(293.4)(335.2)
Goodwill, net236.1 55.8 291.9 208.3 55.8 264.1 
Acquisitions (see Note 2)55.4 — 55.4 29.8 — 29.8 
Other adjustments— — — (2.0)— (2.0)
Period increase55.4 — 55.4 27.8 — 27.8 
Balances as of December 31:      
Goodwill333.3 349.2 682.5 277.9 349.2 627.1 
Accumulated impairment losses and write-offs(41.8)(293.4)(335.2)(41.8)(293.4)(335.2)
Goodwill, net$291.5 $55.8 $347.3 $236.1 $55.8 $291.9 
Schedule of Finite-Lived Intangible Assets by Major-Class
Information regarding our identifiable purchased intangible assets with finite and indefinite lives is as follows (in millions):
December 31, 2021
Weighted-Average Amortization Period (years)Purchase
Price		Accumulated
Amortization		Net
Carrying
Amount
Customer relationships/lists5.27$111.8 $(90.7)$21.1 
Know how3.75171.6 (154.9)16.7 
Developed product technology13.42215.6 (115.6)100.0 
Licenses6.7964.9 (40.6)24.3 
Tradenames7.336.3 (4.4)1.9 
Covenants not to compete3.786.5 (2.9)3.6 
     Total finite-lived intangible assets576.7 (409.1)167.6 
In-process research and development86.3 — 86.3 
     Total purchased intangible assets$663.0 $(409.1)$253.9 
 December 31, 2020
Weighted-Average Amortization Period (years)Purchase
Price		Accumulated
Amortization		Net
Carrying
Amount
Customer relationships/lists5.51$116.6 $(87.2)$29.4 
Know how4.75196.6 (175.4)21.2 
Developed product technology14.00218.1 (107.1)111.0 
Licenses7.7365.6 (37.4)28.2 
Tradenames7.826.6 (4.2)2.4 
Covenants not to compete3.874.5 (2.0)2.5 
Other—0.1 (0.1)— 
Total finite-lived intangible assets 608.1 (413.4)194.7 
In-process research and development4.8 — 4.8 
Total purchased intangible assets$612.9 $(413.4)$199.5 
v3.22.0.1
5. Notes Payable and Long-Term Debt (Tables)
 12 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]  
Principal components of long-term debt [Table Text Block]
The principal components of long-term debt are as follows (in millions):
December 31, 2021December 31, 2020
Finance leases and other debt11.0 14.1 
Less current maturities(0.5)(1.8)
Long-term debt$10.5 $12.3 
v3.22.0.1
6. Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2021
Income Tax Disclosure [Abstract]  
U.S. and international components of income before taxes [Table Text Block]
The U.S. and international components of income before taxes are as follows (in millions):
 Year Ended December 31,
 202120202019
U.S.$2,930.8 $2,339.7 $1,034.0 
International2,507.3 2,567.9 1,227.1 
Income before taxes$5,438.1 $4,907.6 $2,261.1 
Provision for income taxes [Table Text Block]
The provision for income taxes consists of the following (in millions):
 Year Ended December 31,
 202120202019
Current tax expense:   
U.S. Federal$72.4 $69.9 $13.0 
State9.2 12.0 4.4 
International32.6 22.3 23.5 
Current tax expense114.2 104.2 40.9 
Deferred tax expense:   
U.S. Federal981.3 893.5 409.7 
State68.9 54.0 24.4 
International32.1 31.5 16.1 
Deferred tax expense1,082.3 979.0 450.2 
Non-current tax expense (benefit) (4.3)18.2 11.3 
Provision for income taxes$1,192.2 $1,101.4 $502.4 
Reconcilation of effective tax rate on inocme before taxes and statutory rate [Table Text Block]
The reconciliation between our effective tax rate on income before taxes and the statutory tax rate is as follows:
 Year Ended December 31,
 202120202019
U. S. statutory tax rate21.0 %21.0 %21.0 %
Impact of foreign operations(8.6)(9.9)(9.7)
U.S. taxation of foreign income8.9 10.2 10.3 
State taxes1.3 1.1 1.0 
Other(0.7)— (0.4)
Provision for income taxes21.9 %22.4 %22.2 %
Significant components of deferred tax assets and liabilities [Table Text Block]
Deferred tax assets and liabilities reflect the tax effects of losses, credits, and temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes.  Significant components of deferred tax assets and liabilities are as follows (in millions):
 December 31,
 20212020
Deferred tax assets:  
Bad debt, inventory and warranty accruals$32.0 $29.6 
Other post-employment benefits, vacation and other reserves23.8 29.8 
Tax credit and net operating loss carryforwards104.5 93.5 
Lease obligations46.6 49.3 
Other64.8 44.8 
    Total gross deferred tax assets271.7 247.0 
Valuation allowance(46.4)(44.6)
       Total deferred tax assets225.3 202.4 
Deferred tax liabilities:  
Property and equipment35.0 37.0 
Lease assets44.5 46.8 
Investments and intangible assets3,155.7 2,143.4 
        Total deferred tax liabilities3,235.2 2,227.2 
Net deferred tax liabilities$(3,009.9)$(2,024.8)
Tabular reconcilation of total amounts of unrecognized tax benefits [Table Text Block]
The following is a tabular reconciliation of the total amounts of unrecognized tax benefits (in millions):
202120202019
Unrecognized tax benefits – January 1$55.8 $39.2 $29.8 
Additions to tax positions related to prior years3.2 14.0 7.6 
Reductions to tax positions related to prior years(2.1)(1.5)(0.7)
Additions to tax positions related to the current year18.1 3.4 3.0 
Settlements(2.4)— — 
Lapse of statute of limitations(10.8)(0.6)(0.4)
Currency translation0.1 1.3 (0.1)
Unrecognized tax benefits – December 31$61.9 $55.8 $39.2 
Summary of Valuation Allowance The valuation allowance for deferred tax assets is as follows (in millions):
December 31,
202120202019
Beginning balance$44.6 $67.2 $70.8 
Additions charged to expenses1.8 — — 
Deductions from reserves— (22.6)(3.6)
Ending balance$46.4 $44.6 $67.2 
v3.22.0.1
7. Stockholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2021
Stockholders' Equity Note [Abstract]  
Schedule of Stock by Class [Table Text Block]
Changes to Bio-Rad's issued common stock shares are as follows (in thousands):
Class A SharesClass B Shares
Balance at January 1, 201924,884 5,096 
Class B to Class A conversions24 (24)
Issuance of common stock58 18 
Balance at December 31, 201924,966 5,090 
Class B to Class A conversions32 (32)
Issuance of common stock75 18 
Balance at December 31, 202025,073 5,076 
Class B to Class A conversions16 (16)
Issuance of common stock45 18 
Balance at December 31, 202125,134 5,078 
Class of Treasury Stock [Table Text Block] The share repurchase activity under
the share repurchase program through open market transactions for the years ended December 31, 2021, 2020 and 2019 are summarized as follows:
Number of Shares PurchasedWeighted-Average Price per ShareTotal Shares Repurchased To DateRemaining Authorized Value
(in millions)
May 1, 2019 - May 31, 201925,421 $291.70 218,571 $193.7 
June 1, 2019 - June 30, 201925,977 $292.01 244,548 $186.1 
August 1, 2019 - August 31, 201914,745 $339.05 259,293 $181.1 
November 1, 2019 - November 30, 201922,343 $358.04 281,636 $173.1 
March 1, 2020 - March 31, 2020291,941 $342.55 573,577 $73.1 
March 1, 2021 - March 31, 202189,506 $558.60 663,083 $223.1 
v3.22.0.1
8. Accumulated Other Comprehensive Income Accumulated Other Comprehensive Income (Tables)
 12 Months Ended
Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]  
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]
Accumulated other comprehensive income (loss) included in our consolidated balance sheets and consolidated statements of changes in stockholders' equity consists of the following components (in millions):
Foreign currency translation adjustmentsForeign other post-employment benefits adjustmentsNet unrealized holding gains (losses) on available-for-sale investmentsTotal Accumulated other comprehensive income (loss)
Balances as of January 1, 2020$(72.4)$(22.2)$7.2 $(87.4)
Other comprehensive (loss) income, before reclassifications371.9 (5.3)4.0 370.6 
Amounts reclassified from Accumulated other comprehensive income— 0.3 (0.6)(0.3)
Income tax effects(0.9)1.2 (0.8)(0.5)
Other comprehensive income (loss), net of income taxes371.0 (3.8)2.6 369.8 
Balances as of December 31, 2020$298.6 $(26.0)$9.8 $282.4 
Other comprehensive income (loss), before reclassifications(469.5)17.9 (4.0)(455.6)
Amounts reclassified from Accumulated other comprehensive income— 0.3 (1.2)(0.9)
Income tax effects0.4 (3.1)1.2 (1.5)
Other comprehensive income (loss), net of income taxes(469.1)15.1 (4.0)(458.0)
Balances as of December 31, 2021$(170.5)$(10.9)$5.8 $(175.6)
v3.22.0.1
8. Accumulated Other Comprehensive Income Reclassification out of Accumulated Other Comprehensive Income (Tables)
 12 Months Ended
Dec. 31, 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]  
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] All amounts reclassified out of accumulated other comprehensive income were reclassified into other income, net in the consolidated statements of income. Reclassification adjustments are calculated using the specific identification method.
v3.22.0.1
9. Share-based Compensation (Tables)
 12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement, Noncash Expense [Abstract]  
Stock Options Activity
The following table summarizes stock option activity:
SharesWeighted-
Average
Exercise Price		Weighted-
Average
Remaining
Contractual
Term (in years)		Aggregate
Intrinsic
Value
(in millions)
Outstanding, December 31, 2020285,123 $196.29   
Granted16,004 $814.95   
Exercised(50,686)$144.01   
Forfeited— $—   
Outstanding, December 31, 2021250,441 $246.41 4.31$128.5 
    
Unvested, December 31, 202164,101 $493.51 7.59$17.7 
Exercisable, December 31, 2021186,340 $161.41 3.18$110.7 
Stock Options Valuation Assumptions
The weighted-average fair value of stock options granted was estimated using a Black-Scholes option-pricing model with the following weighted-average assumptions:
 Year Ended December 31,
 202120202019
Expected volatility27 %27 %22 %
Risk-free interest rate1.05 %0.31 %1.69 %
Expected life (in years)7.37.47.5
Expected dividend— — — 
Weighted-average fair value of options granted$251.93 $153.32 $93.96 
Resticted Stock Activity
The following table summarizes restricted stock unit activity:

Restricted Stock
Units		Weighted-
Average
Grant-Date
Fair Value		Weighted-Average
Remaining
Contractual Term
(in years)		Aggregate
Intrinsic Value
(in millions)
Outstanding, December 31, 2020386,363 $360.90   
Granted85,541 $810.51   
Vested(128,092)$319.38   
Forfeited(26,952)$401.99   
Outstanding, December 31, 2021316,860 $495.57 1.65$239.4 
Employee Stock Purchase Plan, Valuation Assumptions
The fair value of the employees’ purchase rights under the 2011 ESPP was estimated using a Black-Scholes model with the following weighted-average assumptions:
 Year Ended December 31,
 2021 2020 2019
Expected volatility25 % 41 % 31 %
Risk-free interest rate0.05 %0.5 % 2.25 %
Expected life (in years)0.250.250.25
Expected dividend—  —  — 
Weighted-average fair value     
of purchase rights$127.16  $94.93  $60.39 
Share-based Payment Arrangement, Expensed and Capitalized, Amount Share-based compensation expense is allocated in the consolidated statements of income as follows (in millions):
Year ended December 31,
202120202019
Cost of goods sold$4.9 $3.4 $2.9 
Selling, general and administrative expense38.0 31.8 27.9 
Research and development expense8.3 6.4 4.8 
   Share-based compensation expense$51.2 $41.6 $35.6 
v3.22.0.1
10. Other Income and Expenses (Tables)
 12 Months Ended
Dec. 31, 2021
Other Income and Expenses [Abstract]  
Schedule of other income (expense), net
Other (income) expense, net includes the following components (in millions):
 Year Ended December 31,
 202120202019
Interest and investment income$(18.9)$(18.2)$(30.5)
Net realized gains on investments(8.0)(1.0)(1.5)
Other-than-temporary impairment losses on investments0.8 4.6 5.8 
Gain on divestiture of a division— (11.7)— 
Other (income) expense(0.7)1.8 0.1 
Other income, net$(26.8)$(24.5)$(26.1)
v3.22.0.1
11. Supplemental Cash Flow Information (Tables)
 12 Months Ended
Dec. 31, 2021
Supplemental Cash Flow Information [Abstract]  
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]
11.    SUPPLEMENTAL CASH FLOW INFORMATION

The reconciliation of net income to net cash provided by operating activities is as follows (in millions):
 Year Ended December 31,
 202120202019
Net income$4,245.9 $3,806.3 $1,758.7 
Adjustments to reconcile net income   
to net cash provided by operating activities    
Depreciation and amortization133.8 138.1 134.2 
Reduction in the carrying amount of right-of-use assets39.3 37.1 40.3 
Share-based compensation51.2 41.6 35.6 
Other-than-temporary impairment losses on investments0.8 4.6 5.8 
Changes in fair market value of equity and debt securities(4,926.2)(4,495.8)(2,031.0)
Gain on divestiture of a division— (11.7)— 
Payments for operating lease liabilities(40.7)(36.5)(38.6)
(Increase) decrease in accounts receivable(20.4)(15.0)1.6 
Decrease (increase) in inventories46.1 (52.1)24.2 
(Increase) decrease in other current assets(12.2)(8.4)61.8 
Increase in accounts payable and other current liabilities69.9 124.7 10.6 
(Decrease) increase in income taxes payable(28.8)39.0 (4.2)
Increase in deferred income taxes1,082.3 978.9 450.2 
Increase in other long-term assets(5.2)(6.4)(1.7)
Increase in other long-term liabilities10.5 26.9 13.4 
Other10.2 4.0 (3.0)
Net cash provided by operating activities$656.5 $575.3 $457.9 
Non-cash investing activities:
Purchased property, plant and equipment$5.2 $1.2 $8.1 
Purchased marketable securities and investments$6.0 $4.6 $1.4 
Sold marketable securities and investments$— $— $1.3 
v3.22.0.1
12. Commitments & Contingent Liabilities Commitments & Contingent Liabilities (Tables)
 12 Months Ended
Dec. 31, 2021
Obligations and Funded Status [Abstract]  
Schedule of Net Benefit Costs [Table Text Block]
Components of Net Periodic Benefit Cost
The following sets forth the net periodic benefit cost (income) for the periods indicated (in millions):
202120202019
Service costs$8.0$7.8$6.9
Interest costs0.5 0.8 1.5 
Expected returns on plan assets(1.0)(0.7)(1.2)
Amortization of actuarial losses1.8 1.3 1.0 
Curtailments(1.9)— — 
Settlements1.2 1.3 0.9 
Net periodic benefit costs$8.6$10.5$9.1
Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan [Table Text Block]
Obligations and Funded Status
The following table sets forth the change in benefit obligations, fair value of plan assets and amounts recognized in the Consolidated Balance Sheets for the plans (in millions):
Change in benefit obligation:20212020
Benefit obligation at beginning of year$177.5$153.8
Service cost8.0 7.8 
Interest cost0.5 0.8 
Plan participants' contributions3.2 4.1 
Actuarial (gain) loss(10.2)5.3 
Gross benefits paid(0.7)(1.7)
Plan amendments(1.7)— 
Curtailments(3.3)— 
Settlements(9.5)(6.4)
Change attributable to foreign exchange(8.3)13.8 
Benefit obligation at end of year155.5 177.5 
Change in plan assets:
Fair value of plan assets at beginning year81.4 72.3 
Actual return on plan assets1.3 0.6 
Employer contributions4.3 4.1 
Plan participants' contributions3.2 4.0 
Gross benefits paid1.3 0.2 
Settlements(9.5)(6.4)
Change attributable to foreign exchange(2.6)6.6 
Fair value of plan assets at end of year79.4 81.4 
Underfunded status of plans$(76.1)$(96.1)
Amounts recognized in the consolidated balance sheets:
Current liabilities (Accrued payroll and employee benefits) $(2.3)$(1.3)
Noncurrent liabilities (Other long-term liabilities)(73.8)(94.8)
Net liability, end of fiscal year$(76.1)$(96.1)
Defined Benefit Plan, Assumptions [Table Text Block]
Assumptions

The above actuarial net gains were primarily based on financial, demographic and experience assumptions.

The weighted-average assumptions used in computing the benefit obligations are as follows:

20212020
Discount rate0.6 %0.3 %
Compensation rate increase1.5 %1.7 %

The weighted-average assumptions used in computing the net periodic benefit costs are as follows:
202120202019
Discount rate0.3 %0.5 %1.1 %
Expected long-term rate of return on plan assets1.1 %1.5 %1.8 %
v3.22.0.1
14. Segment Reporting (Tables)
 12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Information regarding industry segments Information regarding industry segments at December 31, 2021, 2020, and 2019 and for the years then ended is as follows (in millions):
Life
Science		Clinical
Diagnostics		Other
Operations
Segment net sales 2021$1,400.8 $1,515.9 $5.8 
 20201,231.8 1,305.2 8.6 
2019885.9 1,412.0 13.8 
Allocated interest expense2021$0.6 $1.0 $— 
20208.0 13.8 0.1 
20197.4 15.9 0.1 
Depreciation and amortization2021$32.5 $61.1 $1.6 
202032.8 65.1 1.0 
201929.4 71.7 0.9 
Segment profit (loss)2021$316.0 $173.0 $(1.1)
 2020271.8 117.0 0.3 
201972.1 148.5 (1.5)
Segment assets2021$588.2 $1,038.4 $16.8 
2020607.3 1,065.6 9.5 
Capital expenditures2021$12.8 $63.5 $7.6 
202016.8 43.6 3.1 
Reconciliation of segment profit to consolidated income before taxes The following reconciles total segment profit to consolidated income before taxes (in millions):
Year Ended December 31,
 202120202019
Total segment profit$487.9 $389.1 $206.2 
Foreign currency exchange losses, net(2.8)(1.8)(2.2)
Change in fair market value of equity and debt securities4,926.2 4,495.8 2,031.0 
Other income, net26.8 24.5 26.1 
Consolidated income before income taxes$5,438.1 $4,907.6 $2,261.1 
Reconciliation of Assets from Segment to Consolidated
The following reconciles total segment assets to consolidated total assets (in millions):
 December 31,
 20212020
Total segment assets$1,643.4 $1,682.4 
Cash, short-term investments and other current assets993.3 1,098.2 
Property, plant and equipment, net, and operating lease right-of-use
  assets, excluding segment specific balances48.2 52.7 
Goodwill, net347.3 291.9 
Other long-term assets14,743.6 9,847.4 
Total assets$17,775.8 $12,972.6 
Net sales and assets to external customers by geographic area
The following presents net sales to external customers by geographic region based primarily on the location of the use of the product or service (in millions):
 Year Ended December 31,
 202120202019
Europe$946.9 $857.7 $770.3 
Asia688.4 546.5 505.0 
United States1,130.6 1,004.8 899.1 
Other (primarily Canada and Latin America)156.6 136.6 137.3 
Total net sales$2,922.5 $2,545.6 $2,311.7 

The following presents Property, plant and equipment, net, Operating lease right-of-use assets and Other assets, excluding deferred income taxes, by geographic region based upon the location of the asset (in millions):
 December 31,
 20212020
Europe$211.4 $208.6 
Asia64.9 53.3 
United States456.5 454.4 
Other (primarily Canada and Latin America)16.5 12.0 
Total Property, plant and equipment, net, Operating lease right-of-use assets and Other assets, excluding deferred income taxes$749.3 $728.3 
v3.22.0.1
15. Restructuring Costs (Tables)
 12 Months Ended
Dec. 31, 2021
Restructuring Cost and Reserve [Line Items]  
Restructuring and Related Costs [Table Text Block]
The following table summarizes the activity of our European reorganization restructuring reserves for severance (in millions):
2021
Life ScienceClinical DiagnosticsTotal
Balances as of January 1$— $— $— 
Charged to expense - employee termination benefits12.9 62.7 75.6 
Adjustment to expense(3.3)(7.9)(11.2)
Cash payments(4.0)(10.2)(14.2)
Foreign currency translation gains(0.4)(2.7)(3.1)
Balances as of December 31$5.2 $41.9 $47.1 
v3.22.0.1
16. Leases (Tables)
 12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Lease, Cost [Table Text Block]
The components of lease expense were as follows (in millions):
Twelve Months Ended December 31,202120202019
Operating lease cost$53.2 $45.4 $51.4 
Finance lease cost:
  Amortization of right-to-use assets$0.5 $0.6 $0.6 
  Interest on lease liabilities0.8 0.8 0.9 
        Total finance lease cost$1.3 $1.4 $1.5 
Sublease income$3.0 $3.0 $3.0 
Lessee Supplemental Cash Flow Information [Table Text Block]
Supplemental cash flow information related to leases was as follows (in millions):
Twelve Months Ended December 31,202120202019
Cash paid for amounts included in the measurement of lease liabilities:
  Operating cash flows from operating leases$40.7 $44.4 $47.2 
  Operating cash flows from finance leases$0.5 $0.6 $0.9 
  Financing cash flows from finance leases$0.8 $0.8 $0.6 
Right-of-use assets obtained in exchange for lease obligations:
  Operating leases$45.5 $16.1 $28.7 
  Finance leases$— $0.4 $0.2 
Lessee Supplemental Balance Sheet Information [Table Text Block]
Supplemental balance sheet information related to leases was as follows (in millions):
December 31, 20212020
Operating Leases
  Operating lease right-of-use assets$204.8 $202.1 
  Current operating lease liabilities$36.4 $36.5 
  Operating lease liabilities175.9 175.1 
     Total operating lease liabilities$212.3 $211.6 

Finance leases are included in Property, plant and equipment, Current maturities of long-term debt, and Long-term debt and notes payable, net of current maturities.
December 31,20212020
Finance Leases
  Property, plant and equipment, gross$11.8 $12.2 
  Less: accumulated depreciation and amortization(5.1)(5.0)
      Property, plant and equipment, net$6.7 $7.2 
  Current maturities of long-term debt and notes payable$0.5 $0.5 
  Long-term debt, net of current maturities10.5 11.0 
      Total finance lease liabilities$11.0 $11.5 
December 31, 20212020
Weighted Average Remaining Lease Term
  Operating leases - in years88
  Finance leases - in years15.516
Weighted Average Discount Rate
  Operating leases3.3 %3.9 %
  Finance leases6.3 %6.2 %
Maturities Of Lease Liabilities For Operating and Finance Leases [Table Text Block]
Maturities of lease liabilities were as follows (in millions):
Year Ending December 31,

Operating LeasesFinance Leases
2022$42.5 $1.2 
202339.1 1.1 
202432.6 1.2 
202529.1 1.1 
202624.0 1.1 
Thereafter79.5 13.0 
   Total lease payments246.8 18.7 
Less imputed interest(34.5)(7.7)
    Total$212.3 $11.0 
v3.22.0.1
17. Quarterly Financial Data (Tables)
 12 Months Ended
Dec. 31, 2021
Quarterly Financial Data [Abstract]  
Schedule of Quarterly Financial Data [Table Text Block]
First
Quarter		Second
Quarter		Third
Quarter		Fourth
Quarter
2021
Net sales$726.8 $715.9 $747.0 $732.8 
Gross profit$400.6 $401.6 $437.4 $401.0 
Net income (loss)$977.4 $914.1 $3,928.0 $(1,573.7)
Basic earnings (loss) per share$32.77 $30.71 $131.75 $(52.59)
Diluted earnings (loss) per share$32.38 $30.32 $129.96 $(52.59)
2020
Net sales$571.6 $536.9 $647.3 $789.8 
Gross profit$317.4 $293.0 $367.3 $460.1 
Net income $685.9 $966.4 $1,314.8 $839.2 
Basic earnings per share$22.97 $32.59 $44.24 $28.13 
Diluted earnings per share$22.72 $32.15 $43.64 $27.81 
v3.22.0.1
1. Significant Accounting Policies Property, Plant and Equipment (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Property, Plant and Equipment [Line Items]      
Restricted investments $ 5,560 $ 5,560  
Retained earnings 13,507,241 9,268,012  
Other assets 102,669 86,723  
Prepaid Taxes 13,700    
Income Tax Expense (Benefit) (1,192,247) (1,101,371) $ (502,406)
Intangible Assets, Net (Excluding Goodwill) $ 253,939 $ 199,497  
Property, Plant and Equipment
Property, Plant and Equipment

Property, plant and equipment are stated at cost, less accumulated depreciation and amortization.  Additions and improvements are capitalized, and maintenance and repairs are expensed as incurred. Included in property, plant and equipment are buildings and equipment acquired under capital lease arrangements, reagent rental equipment and capitalized software, including costs for software developed or obtained for internal use.

Depreciation is computed on a straight-line basis over the estimated useful lives of the assets.  The estimated useful lives of property, plant and equipment are generally as follows: buildings, 10-50 years; leasehold improvements, the life of the improvements or the term of the lease, whichever is shorter; reagent rental equipment, 1-5 years; equipment, 3-12 years; and computer software, 3-5 years.

When property and equipment is retired or otherwise disposed of, the cost and accumulated depreciation are relieved from the accounts and the net gain or loss is included in operating expenses.
    
Minimum [Member] | Customer Relationships [Member]      
Property, Plant and Equipment [Line Items]      
Finite-Lived Intangible Asset, Useful Life 4 years    
Minimum [Member] | Developed Technology Rights [Member]      
Property, Plant and Equipment [Line Items]      
Finite-Lived Intangible Asset, Useful Life 2 years    
Minimum [Member] | License      
Property, Plant and Equipment [Line Items]      
Finite-Lived Intangible Asset, Useful Life 12 years    
Minimum [Member] | Trade Names [Member]      
Property, Plant and Equipment [Line Items]      
Finite-Lived Intangible Asset, Useful Life 6 years    
Minimum [Member] | Noncompete Agreements [Member]      
Property, Plant and Equipment [Line Items]      
Finite-Lived Intangible Asset, Useful Life 3 years    
Minimum [Member] | Building and Building Improvements [Member]      
Property, Plant and Equipment [Line Items]      
Property, Plant and Equipment, Useful Life 10 years    
Minimum [Member] | Reagent Rental Equipment [Member]      
Property, Plant and Equipment [Line Items]      
Property, Plant and Equipment, Useful Life 1 year    
Minimum [Member] | Equipment [Member]      
Property, Plant and Equipment [Line Items]      
Property, Plant and Equipment, Useful Life 3 years    
Minimum [Member] | Software Development      
Property, Plant and Equipment [Line Items]      
Property, Plant and Equipment, Useful Life 3 years    
Maximum [Member] | Customer Relationships [Member]      
Property, Plant and Equipment [Line Items]      
Finite-Lived Intangible Asset, Useful Life 16 years    
Maximum [Member] | Technology-Based Intangible Assets      
Property, Plant and Equipment [Line Items]      
Finite-Lived Intangible Asset, Useful Life 14 years    
Maximum [Member] | Developed Technology Rights [Member]      
Property, Plant and Equipment [Line Items]      
Finite-Lived Intangible Asset, Useful Life 20 years    
Maximum [Member] | License      
Property, Plant and Equipment [Line Items]      
Finite-Lived Intangible Asset, Useful Life 13 years    
Maximum [Member] | Trade Names [Member]      
Property, Plant and Equipment [Line Items]      
Finite-Lived Intangible Asset, Useful Life 15 years    
Maximum [Member] | Noncompete Agreements [Member]      
Property, Plant and Equipment [Line Items]      
Finite-Lived Intangible Asset, Useful Life 10 years    
Maximum [Member] | Building and Building Improvements [Member]      
Property, Plant and Equipment [Line Items]      
Property, Plant and Equipment, Useful Life 50 years    
Maximum [Member] | Reagent Rental Equipment [Member]      
Property, Plant and Equipment [Line Items]      
Property, Plant and Equipment, Useful Life 5 years    
Maximum [Member] | Equipment [Member]      
Property, Plant and Equipment [Line Items]      
Property, Plant and Equipment, Useful Life 12 years    
Maximum [Member] | Software Development      
Property, Plant and Equipment [Line Items]      
Property, Plant and Equipment, Useful Life 5 years    
v3.22.0.1
1. Significant Accounting Policies Warranty rollforward (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Movement in Standard Product Warranty Accrual [Roll Forward]      
Warranty accrual, beginning of period $ 9.8 $ 9.0 $ 10.1
Provision for warranty 14.8 9.4 9.9
Actual warranty costs (11.9) (8.6) (11.0)
Warranty accrual, end of period $ 12.7 $ 9.8 $ 9.0
v3.22.0.1
1. Significant Accounting Policies Earnings per share (Details) - shares
shares in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Accounting Policies [Abstract]      
Basic weighted average shares outstanding 29,831 29,768 29,843
Effect of potentially dilutive stock options and restricted stock awards 377 392 341
Weighted average common shares - diluted 30,208 30,160 30,184
Anti-dilutive shares excluded from the computation of diluted EPS 33 44 98
v3.22.0.1
1. Significant Accounting Policies Details (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2021
Sep. 30, 2021
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]            
Interest expense     $ 1,551 $ 21,861 $ 23,416  
Selling, general and administrative expense     879,574 800,267 824,625  
Research and development expense     271,657 226,598 202,710  
Stockholders' Equity Attributable to Parent $ 13,667,134   13,667,134 9,879,940 5,755,057 $ 4,020,331
Restricted investments 5,560   5,560 5,560    
Retained earnings 13,507,241   13,507,241 9,268,012    
Prepaid Taxes (13,700)   (13,700)      
Accumulated other comprehensive (loss) income (175,553)   (175,553) 282,456    
Other (income) expense, net     26,775 24,488 26,094  
Deferred Tax Assets, Gross 271,700   271,700 247,000    
Deferred Income Tax Expense (Benefit)     1,082,300 979,000 450,200  
Cost of Goods and Services Sold     1,281,884 1,107,804 1,054,663  
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)     0 0    
Goodwill, Impairment Loss     0 0    
Accounts Receivable, Allowance for Credit Loss, Period Increase (Decrease)     1,400 1,200 (1,200)  
Accounts Receivable, Allowance for Credit Loss, Writeoff     (6,400) (1,600) (6,600)  
Accounts Receivable, Allowance for Credit Loss, Recovery     300 0 1,300  
Litigation Settlement, Amount Awarded from Other Party 35,300 $ 32,500        
Trading Revenue [Member]            
New Accounting Pronouncements or Change in Accounting Principle [Line Items]            
Litigation Settlement, Amount Awarded from Other Party $ 32,300 $ 31,600        
Clinical Diagnostics [Member]            
New Accounting Pronouncements or Change in Accounting Principle [Line Items]            
Interest expense     1,000 13,800 15,900  
Life Science [Member]            
New Accounting Pronouncements or Change in Accounting Principle [Line Items]            
Interest expense     $ 600 $ 8,000 $ 7,400  
v3.22.0.1
1. Significant Accounting Policies Revenue Recognition (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Disaggregation of Revenue [Line Items]      
Cost of Goods and Services Sold $ 1,281,884 $ 1,107,804 $ 1,054,663
Retained earnings $ 13,507,241 $ 9,268,012  
Revenue Allocation Percent To Lease Elements 2.00% 3.00% 3.00%
Deferred Revenue $ 71,000 $ 60,000  
Deferred revenue $ 50,852 $ 42,468  
v3.22.0.1
1. Significant Accounting Policies (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2021
Sep. 30, 2021
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Accounting Policies [Abstract]            
Accounts Receivable, Allowance for Credit Loss $ 15,142   $ 15,142 $ 19,807 $ 20,200 $ 26,700
Accounts Receivable, Allowance for Credit Loss, Period Increase (Decrease)     1,400 1,200 (1,200)  
Accounts Receivable, Allowance for Credit Loss, Writeoff     (6,400) (1,600) (6,600)  
Accounts Receivable, Allowance for Credit Loss, Recovery     300 0 $ 1,300  
Litigation Settlement, Amount Awarded from Other Party $ 35,300 $ 32,500        
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)     0 0    
Goodwill, Impairment Loss     $ 0 $ 0    
Revenue Allocation Percent To Lease Elements     2.00% 3.00% 3.00%  
v3.22.0.1
2. Acquisitions (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2021
Jun. 30, 2020
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Oct. 15, 2021
Apr. 01, 2020
Business Acquisition [Line Items]              
Goodwill $ 347,343   $ 347,343 $ 291,916 $ 264,100    
Goodwill, Acquired During Period     55,400 29,800      
Amortization expense     28,400 27,500 23,500    
Goodwill, Other Increase (Decrease)     0 2,000      
Proceeds from Divestiture of a Division   $ 12,200 0 12,240 0    
Gain on divestiture of a division   11,700 0 (11,700) $ 0    
Celsee [Member]              
Business Acquisition [Line Items]              
Business Combination, Consideration Transferred   99,300          
Business Combination, Contingent Consideration, Liability             $ 100
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets             8,400
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities             19,700
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net             300
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets             69,500
Goodwill, Acquired During Period   29,800          
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net             99,300
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High             60,000
Payments to Acquire Businesses, Gross   99,200          
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents             600
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill             $ 79,900
Celsee [Member] | Cost of Sales [Member]              
Business Acquisition [Line Items]              
Amortization expense     3,700 2,800      
Celsee [Member] | Developed Technology Rights [Member]              
Business Acquisition [Line Items]              
Finite-lived Intangible Assets Acquired   $ 70,300          
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life   18 years 10 months 24 days          
Celsee [Member] | Customer Lists              
Business Acquisition [Line Items]              
Finite-lived Intangible Assets Acquired   $ 3,600          
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life   4 years          
Celsee [Member] | Customer Lists | Selling, General and Administrative Expenses [Member]              
Business Acquisition [Line Items]              
Amortization expense     900 700      
Celsee [Member] | Noncompete Agreements [Member]              
Business Acquisition [Line Items]              
Finite-lived Intangible Assets Acquired   $ 1,400          
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life   3 years          
Celsee [Member] | Noncompete Agreements [Member] | Selling, General and Administrative Expenses [Member]              
Business Acquisition [Line Items]              
Amortization expense     500 $ 400      
Celsee [Member] | In Process Research and Development [Member]              
Business Acquisition [Line Items]              
Finite-lived Intangible Assets Acquired   $ 4,600          
Dropworks              
Business Acquisition [Line Items]              
Business Combination, Consideration Transferred 125,500            
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets           $ 5,600  
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities           19,500  
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net           400  
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets           70,100  
Goodwill, Acquired During Period 55,400            
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net           125,500  
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill           $ 83,600  
Dropworks | Noncompete Agreements [Member]              
Business Acquisition [Line Items]              
Finite-lived Intangible Assets Acquired $ 1,900            
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life 4 years 8 months 12 days            
Dropworks | Noncompete Agreements [Member] | Selling, General and Administrative Expenses [Member]              
Business Acquisition [Line Items]              
Amortization expense     $ 100        
Dropworks | In Process Research and Development [Member]              
Business Acquisition [Line Items]              
Finite-lived Intangible Assets Acquired $ 81,700            
v3.22.0.1
3. Fair Value Measurements (Details)
€ in Millions, $ in Millions
Dec. 31, 2021
USD ($)
Dec. 31, 2021
EUR (€)
Dec. 31, 2020
USD ($)
Apr. 01, 2020
USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Equity Securities, FV-NI $ 4,920.0      
Debt Securities, Trading, and Equity Securities, FV-NI 443.1 [1] € 400.0 $ 0.0  
Debt Securities, Available-for-sale 327.7      
Celsee [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Business Combination, Contingent Consideration, Liability       $ 0.1
Fair Value, Recurring [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Restricted Investments, at Fair Value 6.9   6.7  
Equity Securities, FV-NI 13,977.5 [1]   9,582.4  
Debt Securities, Trading, and Equity Securities, FV-NI [1] 443.1      
Debt Securities, Available-for-sale 327.7   267.6  
Forward foreign exchange contracts, Asset [2] 1.7   1.0  
Financial Assets Carried at Fair Value 14,899.5   9,990.5  
Forward foreign exchange contracts, Liability [3] 2.8   1.0  
Business Combination, Contingent Consideration, Liability [4]     0.7  
Liabilities, Fair Value Disclosure     1.7  
Fair Value, Recurring [Member] | Asset-backed Securities [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Debt Securities, Available-for-sale 87.3 [5]   36.2  
Fair Value, Recurring [Member] | Corporate Debt Securities [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Debt Securities, Available-for-sale 182.3 [5]   133.2  
Fair Value, Recurring [Member] | US Government Sponsored Agencies [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Debt Securities, Available-for-sale 44.3 [5]   76.9  
Fair Value, Recurring [Member] | Foreign Government Obligations [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Debt Securities, Available-for-sale 1.0 [5]   4.0  
Fair Value, Recurring [Member] | Foreign Government Debt [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Debt Securities, Available-for-sale 3.8 [5]   2.1  
Fair Value, Recurring [Member] | Municipal Obligations [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Debt Securities, Available-for-sale 9.0 [5]   15.2  
Fair Value, Recurring [Member] | Debt Securities [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Debt Securities, Available-for-sale 327.7   267.6  
Fair Value, Recurring [Member] | Commercial Paper [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash equivalents [6] 39.8   41.7  
Fair Value, Recurring [Member] | Time Deposits [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash equivalents [6] 17.3   27.6  
Fair Value, Recurring [Member] | Asset-backed Securities [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash equivalents [6] 0.1   0.9  
Fair Value, Recurring [Member] | Money Market Funds [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash equivalents [6] 50.7   60.1  
Fair Value, Recurring [Member] | US Government Sponsored Agencies [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash equivalents [6] 33.6   2.5  
Fair Value, Recurring [Member] | Cash Equivalents [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash equivalents [6] 142.6   132.8  
Fair Value, Recurring [Member] | 8888 Foreign Governments [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash equivalents [6] 0.8      
Fair Value, Recurring [Member] | Municipal Obligations [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash equivalents [6] 0.3      
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Restricted Investments, at Fair Value 6.9   6.7  
Equity Securities, FV-NI 13,977.5 [1]   9,582.4  
Debt Securities, Trading, and Equity Securities, FV-NI [1] 0.0      
Debt Securities, Available-for-sale 0.0   0.0  
Forward foreign exchange contracts, Asset [2] 0.0   0.0  
Financial Assets Carried at Fair Value 14,042.3   9,666.8  
Forward foreign exchange contracts, Liability [3] 0.0   0.0  
Business Combination, Contingent Consideration, Liability [4]     0.0  
Liabilities, Fair Value Disclosure     0.0  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Asset-backed Securities [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Debt Securities, Available-for-sale 0.0 [5]   0.0  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Corporate Debt Securities [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Debt Securities, Available-for-sale 0.0 [5]   0.0  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | US Government Sponsored Agencies [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Debt Securities, Available-for-sale 0.0 [5]   0.0  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Foreign Government Obligations [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Debt Securities, Available-for-sale 0.0 [5]   0.0  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Foreign Government Debt [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Debt Securities, Available-for-sale 0.0 [5]   0.0  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Municipal Obligations [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Debt Securities, Available-for-sale 0.0 [5]   0.0  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Commercial Paper [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash equivalents [6] 0.0   0.0  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Time Deposits [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash equivalents [6] 7.2   17.6  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Asset-backed Securities [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash equivalents [6] 0.0   0.0  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Money Market Funds [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash equivalents [6] 50.7   60.1  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | US Government Sponsored Agencies [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash equivalents [6] 0.0   0.0  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Cash Equivalents [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash equivalents [6] 57.9   77.7  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | 8888 Foreign Governments [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash equivalents [6] 0.0      
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Municipal Obligations [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash equivalents [6] 0.0      
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Restricted Investments, at Fair Value 0.0   0.0  
Equity Securities, FV-NI 0.0 [1]   0.0  
Debt Securities, Trading, and Equity Securities, FV-NI [1] 0.0      
Debt Securities, Available-for-sale 327.7   267.6  
Forward foreign exchange contracts, Asset [2] 1.7   1.0  
Financial Assets Carried at Fair Value 414.1   323.7  
Forward foreign exchange contracts, Liability [3] 2.8   1.0  
Business Combination, Contingent Consideration, Liability [4]     0.0  
Liabilities, Fair Value Disclosure     1.0  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Asset-backed Securities [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Debt Securities, Available-for-sale 87.3 [5]   36.2  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Debt Securities, Available-for-sale 182.3 [5]   133.2  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | US Government Sponsored Agencies [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Debt Securities, Available-for-sale 44.3 [5]   76.9  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Foreign Government Obligations [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Debt Securities, Available-for-sale 1.0 [5]   4.0  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Foreign Government Debt [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Debt Securities, Available-for-sale 3.8 [5]   2.1  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Municipal Obligations [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Debt Securities, Available-for-sale 9.0 [5]   15.2  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Commercial Paper [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash equivalents [6] 39.8   41.7  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Time Deposits [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash equivalents [6] 10.1   10.0  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Asset-backed Securities [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash equivalents [6] 0.1   0.9  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Money Market Funds [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash equivalents [6] 0.0   0.0  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | US Government Sponsored Agencies [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash equivalents [6] 33.6   2.5  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Cash Equivalents [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash equivalents [6] 84.7   55.1  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | 8888 Foreign Governments [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash equivalents [6] 0.8      
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Municipal Obligations [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash equivalents [6] 0.3      
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Restricted Investments, at Fair Value 0.0   0.0  
Equity Securities, FV-NI 0.0 [1]   0.0  
Debt Securities, Trading, and Equity Securities, FV-NI [1] 443.1      
Debt Securities, Available-for-sale 0.0   0.0  
Forward foreign exchange contracts, Asset [2] 0.0   0.0  
Financial Assets Carried at Fair Value 443.1   0.0  
Forward foreign exchange contracts, Liability [3] 0.0   0.0  
Business Combination, Contingent Consideration, Liability [4]     0.7  
Liabilities, Fair Value Disclosure     0.7  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Asset-backed Securities [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Debt Securities, Available-for-sale 0.0 [5]   0.0  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Corporate Debt Securities [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Debt Securities, Available-for-sale 0.0 [5]   0.0  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | US Government Sponsored Agencies [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Debt Securities, Available-for-sale 0.0 [5]   0.0  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Foreign Government Obligations [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Debt Securities, Available-for-sale 0.0 [5]   0.0  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Foreign Government Debt [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Debt Securities, Available-for-sale 0.0 [5]   0.0  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Municipal Obligations [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Debt Securities, Available-for-sale 0.0 [5]   0.0  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Commercial Paper [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash equivalents [6] 0.0   0.0  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Time Deposits [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash equivalents [6] 0.0   0.0  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Asset-backed Securities [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash equivalents [6] 0.0   0.0  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Money Market Funds [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash equivalents [6] 0.0   0.0  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | US Government Sponsored Agencies [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash equivalents [6] 0.0   0.0  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Cash Equivalents [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash equivalents [6] 0.0   0.0  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | 8888 Foreign Governments [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash equivalents [6] 0.0      
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Municipal Obligations [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash equivalents [6] 0.0      
Short-term Investments [Member] | Fair Value, Recurring [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Equity Securities, FV-NI 71.4   61.4  
Debt Securities, Available-for-sale 327.7   267.5  
Short-term Investments [Member] | Fair Value, Recurring [Member] | Asset-backed Securities [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Debt Securities, Available-for-sale 87.4   36.1  
Short-term Investments [Member] | Fair Value, Recurring [Member] | Corporate Debt Securities [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Debt Securities, Available-for-sale 182.2   133.2  
Short-term Investments [Member] | Fair Value, Recurring [Member] | US Government Sponsored Agencies [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Debt Securities, Available-for-sale 44.3   76.9  
Short-term Investments [Member] | Fair Value, Recurring [Member] | Foreign Government Obligations [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Debt Securities, Available-for-sale 1.0   4.0  
Short-term Investments [Member] | Fair Value, Recurring [Member] | Foreign Government Debt [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Debt Securities, Available-for-sale 3.8   2.1  
Short-term Investments [Member] | Fair Value, Recurring [Member] | Municipal Obligations [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Debt Securities, Available-for-sale 9.0   15.2  
Short-term Investments [Member] | Fair Value, Recurring [Member] | Debt Securities [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Debt Securities, Available-for-sale 327.7   267.5  
Other Investments [Member] | Fair Value, Recurring [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Restricted Investments, at Fair Value 1.3   1.1  
Equity Securities, FV-NI 13,906.1   9,521.0  
Debt Securities, Available-for-sale 0.0   0.1  
Restricted investment | Fair Value, Recurring [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Restricted Investments, at Fair Value 5.6   5.6  
Other Long-term Investments [Member] | Fair Value, Recurring [Member] | Asset-backed Securities [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Debt Securities, Available-for-sale 0.0   0.1  
Other Long-term Investments [Member] | Fair Value, Recurring [Member] | Debt Securities [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Debt Securities, Available-for-sale $ 0.0   $ 0.1  
[1] Equity securities are included in the following accounts in the consolidated balance sheets (in millions):
December 31, 2021December 31, 2020
Short-term investments$71.4 $61.4 
Other investments13,906.1 9,521.0 
   Total$13,977.5 $9,582.4 
[2] Forward foreign exchange contracts in an asset position are included in other current assets in the consolidated balance sheets.
[3] Forward foreign exchange contracts in a liability position are included in other current liabilities in the consolidated balance sheets.
[4] Contingent consideration liabilities in a liability position are included in the other long-term liabilities in the consolidated balance sheets.
Level 1 Fair Value Measurements

As of December 31, 2021, we own 12,987,900 ordinary voting shares and 9,588,908 preference shares of Sartorius AG (Sartorius), of Goettingen, Germany, a process technology supplier to the biotechnology, pharmaceutical, chemical and food and beverage industries. We did not purchase any incremental shares for the years ended December 31, 2021 and 2020. We own approximately 37% of the outstanding ordinary shares (excluding treasury shares) and 28% of the preference shares of Sartorius as of December 31, 2021. The Sartorius family trust (Sartorius family members are beneficiaries of the trust) holds a majority interest of the outstanding ordinary shares of Sartorius. We do not have the ability to exercise significant influence over the operating and financial policies of Sartorius primarily because we do not have any representative or designee on Sartorius' board of directors and have tried and failed to obtain access to operating or financial information necessary to apply the equity method of accounting.

The change in fair market value on our investment in Sartorius AG for the year ended December 31, 2021 was $4.92 billion gain and is recorded in our consolidated statements of income.
[5] Available-for-sale investments are included in the following accounts in the consolidated balance sheets (in millions):
 December 31,
2021		December 31, 2020
Short-term investments$327.7 $267.5 
Other investments— 0.1 
Total$327.7 $267.6 
[6] Cash equivalents are included in Cash and cash equivalents in the consolidated balance sheets.
v3.22.0.1
3. Fair Value Measurements Foreign Exchange Forward Contracts (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2021
USD ($)
Forward foreign exchange contract to purchase foreign currency [Member]  
Derivatives, Fair Value [Line Items]  
Gain (loss) on foreign currency derivative instruments not designated as hedging instruments $ (2.1)
Derivative, Notional Amount 453.1
Forward foreign exchange contract to sell foreign currency [Member]  
Derivatives, Fair Value [Line Items]  
Gain (loss) on foreign currency derivative instruments not designated as hedging instruments 1.0
Derivative, Notional Amount $ 125.0
v3.22.0.1
3. Fair Value Measurements Available-for-Sale Investments (Details) - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]    
Debt Securities, Available-for-sale $ 327.7  
Debt Securities, Available-for-sale, Amortized Cost 327.5  
Fair Value, Recurring [Member]    
Debt Securities, Available-for-sale [Line Items]    
Debt Securities, Available-for-sale 327.7 $ 267.6
Fair Value, Recurring [Member] | Corporate Debt Securities [Member]    
Debt Securities, Available-for-sale [Line Items]    
Debt Securities, Available-for-sale 182.3 [1] 133.2
Fair Value, Recurring [Member] | Municipal Obligations [Member]    
Debt Securities, Available-for-sale [Line Items]    
Debt Securities, Available-for-sale 9.0 [1] 15.2
Fair Value, Recurring [Member] | Asset-backed Securities [Member]    
Debt Securities, Available-for-sale [Line Items]    
Debt Securities, Available-for-sale 87.3 [1] 36.2
Fair Value, Recurring [Member] | US Government Sponsored Agencies [Member]    
Debt Securities, Available-for-sale [Line Items]    
Debt Securities, Available-for-sale 44.3 [1] 76.9
Fair Value, Recurring [Member] | Foreign Government Obligations [Member]    
Debt Securities, Available-for-sale [Line Items]    
Debt Securities, Available-for-sale 1.0 [1] 4.0
Fair Value, Recurring [Member] | Foreign Government Debt [Member]    
Debt Securities, Available-for-sale [Line Items]    
Debt Securities, Available-for-sale 3.8 [1] 2.1
Fair Value, Recurring [Member] | Debt Securities [Member]    
Debt Securities, Available-for-sale [Line Items]    
Debt Securities, Available-for-sale 327.7 267.6
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax (0.4) 0.0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 0.6 5.4
Debt Securities, Available-for-sale, Allowance for Credit Loss 0.0  
Debt Securities, Available-for-sale, Amortized Cost 327.5 262.2
Short-term Investments [Member] | Fair Value, Recurring [Member]    
Debt Securities, Available-for-sale [Line Items]    
Debt Securities, Available-for-sale 327.7 267.5
Short-term Investments [Member] | Fair Value, Recurring [Member] | Corporate Debt Securities [Member]    
Debt Securities, Available-for-sale [Line Items]    
Debt Securities, Available-for-sale 182.2 133.2
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax (0.2) 0.0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 0.5 2.7
Debt Securities, Available-for-sale, Allowance for Credit Loss 0.0  
Debt Securities, Available-for-sale, Amortized Cost 181.9 130.5
Short-term Investments [Member] | Fair Value, Recurring [Member] | Municipal Obligations [Member]    
Debt Securities, Available-for-sale [Line Items]    
Debt Securities, Available-for-sale 9.0 15.2
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax 0.0 0.0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 0.0 0.2
Debt Securities, Available-for-sale, Allowance for Credit Loss 0.0  
Debt Securities, Available-for-sale, Amortized Cost 9.0 15.0
Short-term Investments [Member] | Fair Value, Recurring [Member] | Asset-backed Securities [Member]    
Debt Securities, Available-for-sale [Line Items]    
Debt Securities, Available-for-sale 87.4 36.1
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax (0.2) 0.0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 0.1 0.3
Debt Securities, Available-for-sale, Allowance for Credit Loss 0.0  
Debt Securities, Available-for-sale, Amortized Cost 87.5 35.8
Short-term Investments [Member] | Fair Value, Recurring [Member] | US Government Sponsored Agencies [Member]    
Debt Securities, Available-for-sale [Line Items]    
Debt Securities, Available-for-sale 44.3 76.9
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax 0.0 0.0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 0.0 2.2
Debt Securities, Available-for-sale, Allowance for Credit Loss 0.0  
Debt Securities, Available-for-sale, Amortized Cost 44.3 74.7
Short-term Investments [Member] | Fair Value, Recurring [Member] | Foreign Government Obligations [Member]    
Debt Securities, Available-for-sale [Line Items]    
Debt Securities, Available-for-sale 1.0 4.0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax 0.0 0.0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 0.0 0.0
Debt Securities, Available-for-sale, Allowance for Credit Loss 0.0  
Debt Securities, Available-for-sale, Amortized Cost 1.0 4.0
Short-term Investments [Member] | Fair Value, Recurring [Member] | Foreign Government Debt [Member]    
Debt Securities, Available-for-sale [Line Items]    
Debt Securities, Available-for-sale 3.8 2.1
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax 0.0 0.0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 0.0 0.0
Debt Securities, Available-for-sale, Allowance for Credit Loss 0.0  
Debt Securities, Available-for-sale, Amortized Cost 3.8 2.1
Short-term Investments [Member] | Fair Value, Recurring [Member] | Debt Securities [Member]    
Debt Securities, Available-for-sale [Line Items]    
Debt Securities, Available-for-sale 327.7 267.5
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax (0.4) 0.0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 0.6 5.4
Debt Securities, Available-for-sale, Allowance for Credit Loss 0.0  
Debt Securities, Available-for-sale, Amortized Cost 327.5 262.1
Other Long-term Investments [Member] | Fair Value, Recurring [Member] | Asset-backed Securities [Member]    
Debt Securities, Available-for-sale [Line Items]    
Debt Securities, Available-for-sale 0.0 0.1
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax 0.0 0.0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 0.0 0.0
Debt Securities, Available-for-sale, Allowance for Credit Loss 0.0  
Debt Securities, Available-for-sale, Amortized Cost 0.0 0.1
Other Long-term Investments [Member] | Fair Value, Recurring [Member] | Debt Securities [Member]    
Debt Securities, Available-for-sale [Line Items]    
Debt Securities, Available-for-sale 0.0 0.1
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax 0.0 0.0
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax 0.0 0.0
Debt Securities, Available-for-sale, Allowance for Credit Loss 0.0  
Debt Securities, Available-for-sale, Amortized Cost $ 0.0 $ 0.1
[1] Available-for-sale investments are included in the following accounts in the consolidated balance sheets (in millions):
 December 31,
2021		December 31, 2020
Short-term investments$327.7 $267.5 
Other investments— 0.1 
Total$327.7 $267.6 
v3.22.0.1
3. Fair Value Measurements Amortized Cost and Fair Value of Debt Securities (Details)
$ in Millions
Dec. 31, 2021
USD ($)
Fair Value Disclosures [Abstract]  
Mature in less than one year $ 135.5
Mature in one to five years 153.7
Mature in more than five years 38.3
Total Amortized Cost 327.5
Mature in less than one year 135.5
Mature in one to five years 153.9
Mature in more than five years 38.3
Estimated Fair Value $ 327.7
v3.22.0.1
3. Fair Value Measurements Fair Value and Gross Unrealized Losses with Unrealized Losses (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Segment Reconciling Items [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair Value, Option, Changes in Fair Value, Gain (Loss) $ 4,926.2 $ 4,495.8 $ 2,031.0
v3.22.0.1
3. Fair Value Investments (Details)
€ in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2021
USD ($)
shares
Dec. 31, 2021
EUR (€)
shares
Dec. 31, 2020
USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Equity Securities without Readily Determinable Fair Value, Amount $ 6.5   $ 0.5
Interest Receivable, Current 2.2   1.4
Equity Method Investments 59.1   38.4
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Financial Instruments, Owned, Principal Investments, at Fair Value (443.1) [1] € (400.0) $ 0.0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements 0.0    
Payments to Acquire Loans and Leases Held-for-investment 453.4    
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss 10.3    
Fair Value, Recurring [Member]      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Financial Instruments, Owned, Principal Investments, at Fair Value $ (443.1) [1]    
Ordinary voting shares [Member]      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Investment ownership percentage 37.00% 37.00%  
Investment Owned, Balance, Shares | shares 12,987,900 12,987,900  
Preference shares [Member]      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Investment ownership percentage 28.00% 28.00%  
Investment Owned, Balance, Shares | shares 9,588,908 9,588,908  
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Financial Instruments, Owned, Principal Investments, at Fair Value $ 0.0 [1]    
[1] Equity securities are included in the following accounts in the consolidated balance sheets (in millions):
December 31, 2021December 31, 2020
Short-term investments$71.4 $61.4 
Other investments13,906.1 9,521.0 
   Total$13,977.5 $9,582.4 
v3.22.0.1
3. Fair Value Measurements Contingent Consideration (Details) - USD ($)
$ in Millions
Dec. 31, 2020
Apr. 01, 2020
Fair Value, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Business Combination, Contingent Consideration, Liability [1] $ 0.7  
Celsee [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Business Combination, Contingent Consideration, Liability   $ 0.1
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High   $ 60.0
[1] Contingent consideration liabilities in a liability position are included in the other long-term liabilities in the consolidated balance sheets.
Level 1 Fair Value Measurements

As of December 31, 2021, we own 12,987,900 ordinary voting shares and 9,588,908 preference shares of Sartorius AG (Sartorius), of Goettingen, Germany, a process technology supplier to the biotechnology, pharmaceutical, chemical and food and beverage industries. We did not purchase any incremental shares for the years ended December 31, 2021 and 2020. We own approximately 37% of the outstanding ordinary shares (excluding treasury shares) and 28% of the preference shares of Sartorius as of December 31, 2021. The Sartorius family trust (Sartorius family members are beneficiaries of the trust) holds a majority interest of the outstanding ordinary shares of Sartorius. We do not have the ability to exercise significant influence over the operating and financial policies of Sartorius primarily because we do not have any representative or designee on Sartorius' board of directors and have tried and failed to obtain access to operating or financial information necessary to apply the equity method of accounting.

The change in fair market value on our investment in Sartorius AG for the year ended December 31, 2021 was $4.92 billion gain and is recorded in our consolidated statements of income.
v3.22.0.1
4. Goodwill and other Purchased Intangible Assets Intangible Assets, Goodwill and Other (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Goodwill [Roll Forward]    
Goodwill period start $ 627,100 $ 599,300
Accumulated impairment loss period start (335,200) (335,200)
Goodwill, net period start 291,916 264,100
Goodwill, Acquired During Period 55,400 29,800
Goodwill, Other Increase (Decrease) 0 (2,000)
Goodwill, Impairment Loss 0 0
Goodwill, Period Increase (Decrease) 55,400 27,800
Goodwill period end 682,500 627,100
Accumulated impairment loss period end (335,200) (335,200)
Goodwill, net period end 347,343 291,916
Life Science [Member]    
Goodwill [Roll Forward]    
Goodwill period start 277,900 250,100
Accumulated impairment loss period start (41,800) (41,800)
Goodwill, net period start 236,100 208,300
Goodwill, Acquired During Period 55,400 29,800
Goodwill, Other Increase (Decrease) 0 (2,000)
Goodwill, Period Increase (Decrease) 55,400 27,800
Goodwill period end 333,300 277,900
Accumulated impairment loss period end (41,800) (41,800)
Goodwill, net period end 291,500 236,100
Clinical Diagnostics [Member]    
Goodwill [Roll Forward]    
Goodwill period start 349,200 349,200
Accumulated impairment loss period start (293,400) (293,400)
Goodwill, net period start 55,800 55,800
Goodwill, Acquired During Period 0 0
Goodwill, Other Increase (Decrease) 0 0
Goodwill, Period Increase (Decrease) 0 0
Goodwill period end 349,200 349,200
Accumulated impairment loss period end (293,400) (293,400)
Goodwill, net period end $ 55,800 $ 55,800
v3.22.0.1
4. Goodwill and other Purchased Intangible Assets Intangible Assets, Goodwill and Other Intangible Assets (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Acquired Finite-Lived Intangible Assets [Line Items]      
Finite-Lived Intangible Assets, Gross $ 576,700 $ 608,100  
Future Amortization Expense, Year One 25,400    
Future Amortization Expense, Year Two 23,900    
Future Amortization Expense, Year Three 21,000    
Future Amortization Expense, Year Four 19,000    
Future Amortization Expense, Year Five 14,000    
Finite-Lived Intangible Assets, Amortization Expense, after Year Five 64,300    
Finite-Lived Intangible Assets, Net [Abstract]      
Accumulated Amortization (409,100) (413,400)  
Net Carrying Amount 167,600 194,700  
Amortization [Abstract]      
Amortization expense 28,400 27,500 $ 23,500
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) 0 0  
Intangible Assets, Net (Excluding Goodwill) 253,939 199,497  
Intangible Assets, Gross (Excluding Goodwill) $ 663,000 $ 612,900  
Customer Relationships [Member]      
Acquired Finite-Lived Intangible Assets [Line Items]      
Finite-Lived Intangible Assets, Remaining Amortization Period 5 years 3 months 7 days 5 years 6 months 3 days  
Finite-Lived Intangible Assets, Gross $ 111,800 $ 116,600  
Finite-Lived Intangible Assets, Net [Abstract]      
Accumulated Amortization (90,700) (87,200)  
Net Carrying Amount $ 21,100 $ 29,400  
Know how [Member]      
Acquired Finite-Lived Intangible Assets [Line Items]      
Finite-Lived Intangible Assets, Remaining Amortization Period 3 years 9 months 4 years 9 months  
Finite-Lived Intangible Assets, Gross $ 171,600 $ 196,600  
Finite-Lived Intangible Assets, Net [Abstract]      
Accumulated Amortization (154,900) (175,400)  
Net Carrying Amount $ 16,700 $ 21,200  
Developed Technology Rights [Member]      
Acquired Finite-Lived Intangible Assets [Line Items]      
Finite-Lived Intangible Assets, Remaining Amortization Period 13 years 5 months 1 day 14 years  
Finite-Lived Intangible Assets, Gross $ 215,600 $ 218,100  
Finite-Lived Intangible Assets, Net [Abstract]      
Accumulated Amortization (115,600) (107,100)  
Net Carrying Amount $ 100,000 $ 111,000  
Licensing Agreements [Member]      
Acquired Finite-Lived Intangible Assets [Line Items]      
Finite-Lived Intangible Assets, Remaining Amortization Period 6 years 9 months 14 days 7 years 8 months 23 days  
Finite-Lived Intangible Assets, Gross $ 64,900 $ 65,600  
Finite-Lived Intangible Assets, Net [Abstract]      
Accumulated Amortization (40,600) (37,400)  
Net Carrying Amount $ 24,300 $ 28,200  
Trade Names [Member]      
Acquired Finite-Lived Intangible Assets [Line Items]      
Finite-Lived Intangible Assets, Remaining Amortization Period 7 years 3 months 29 days 7 years 9 months 25 days  
Finite-Lived Intangible Assets, Gross $ 6,300 $ 6,600  
Finite-Lived Intangible Assets, Net [Abstract]      
Accumulated Amortization (4,400) (4,200)  
Net Carrying Amount $ 1,900 $ 2,400  
Noncompete Agreements [Member]      
Acquired Finite-Lived Intangible Assets [Line Items]      
Finite-Lived Intangible Assets, Remaining Amortization Period 3 years 9 months 10 days 3 years 10 months 13 days  
Finite-Lived Intangible Assets, Gross $ 6,500 $ 4,500  
Finite-Lived Intangible Assets, Net [Abstract]      
Accumulated Amortization (2,900) (2,000)  
Net Carrying Amount 3,600 $ 2,500  
Other Intangible Assets [Member]      
Acquired Finite-Lived Intangible Assets [Line Items]      
Finite-Lived Intangible Assets, Remaining Amortization Period    
Finite-Lived Intangible Assets, Gross   $ 100  
Finite-Lived Intangible Assets, Net [Abstract]      
Accumulated Amortization   (100)  
Net Carrying Amount   0  
In Process Research and Development [Member]      
Amortization [Abstract]      
Indefinite-lived Intangible Assets (Excluding Goodwill) $ 86,300 $ 4,800  
v3.22.0.1
5. Notes Payable and Long-Term Debt (Details) - USD ($)
Dec. 31, 2021
Dec. 31, 2020
Debt Instrument [Line Items]    
Other Long-term Debt, Current $ 500,000 $ 1,800,000
Long-term Debt and Lease Obligation 10,514,000 12,258,000
Maturities of Long-term Debt [Abstract]    
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months 500,000  
Long-term Debt, Maturities, Repayments of Principal in Year Two 500,000  
Long-term Debt, Maturities, Repayments of Principal in Year Three 500,000  
Long-term Debt, Maturities, Repayments of Principal in Year Four 400,000  
Long-term Debt, Maturities, Repayments of Principal in Year Five 500,000  
Long-term Debt, Maturities, Repayments of Principal after Year Five 8,600,000  
Line of Credit Facility, Remaining Borrowing Capacity 208,400,000  
Letters of Credit Outstanding, Amount 4,700,000  
Performance Guarantee [Member]    
Maturities of Long-term Debt [Abstract]    
Letters of Credit Outstanding, Amount 4,700,000  
Finance Lease Obligations [Member] | Finance Leases and Other Debt [Member]    
Debt Instrument [Line Items]    
Other Long-term Debt 11,000,000.0 $ 14,100,000
Line of Credit [Member]    
Maturities of Long-term Debt [Abstract]    
Long-term Line of Credit $ 0  
Line of Credit Facility, Interest Rate at Period End 1.334%  
Letters of Credit Outstanding, Amount $ 200,000  
v3.22.0.1
6. Income Taxes (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Income Taxes [Line Items]        
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount $ 1,800 $ 0 $ 0  
Prepaid Taxes 13,700      
U.S. 2,930,800 2,339,700 1,034,000  
International 2,507,300 2,567,900 1,227,100  
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest 5,438,149 4,907,638 2,261,081  
U.S. Federal 72,400 69,900 13,000  
State 9,200 12,000 4,400  
International 32,600 22,300 23,500  
Current Income Tax Expense (Benefit) 114,200 104,200 40,900  
U.S. Federal 981,300 893,500 409,700  
State 68,900 54,000 24,400  
International 32,100 31,500 16,100  
Deferred tax benefit 1,082,300 979,000 450,200  
Non-current tax expense (benefit) (4,300) 18,200 11,300  
Provision for income taxes $ 1,192,247 $ 1,101,371 $ 502,406  
U.S. statutory tax rate 21.00% 21.00% 21.00%  
Impact of foreign operations (8.60%) (9.90%) (9.70%)  
State taxes 1.30% 1.10% 1.00%  
Other (0.70%) 0.00% (0.40%)  
Provision for income taxes 21.90% 22.40% 22.20%  
Bad debt, inventory and warranty accruals $ 32,000 $ 29,600    
Other post-employment benefits, vacation and other reserves 23,800 29,800    
Tax credit and net operating loss carryforwards 104,500 93,500    
Other (64,800) (44,800)    
Total gross deferred tax assets 271,700 247,000    
Valuation allowance (46,400) (44,600) $ (67,200) $ (70,800)
Deductions 0 (22,600) (3,600)  
Total deferred tax assets 225,300 202,400    
Property and equipment 35,000 37,000    
Investments and intangible assets 3,155,700 2,143,400    
Total deferred tax liabilities 3,235,200 2,227,200    
Net deferred tax liabilities (3,009,900) (2,024,800)    
Unrecognized tax benefits period start 55,800 39,200 29,800  
Additions to tax positions related to prior years 3,200 14,000 7,600  
Reductions to tax positions related to prior years (2,100) (1,500) (700)  
Additions to tax positions related to the current year 18,100 3,400 3,000  
Settlements (2,400) 0 0  
Lapse of statute of limitations (10,800) (600) (400)  
Unrecognized Tax Benefits, Increase Resulting from Foreign Currency Translation 100 1,300    
Currency translation     (100)  
Unrecognized tax benefits period end 61,900 55,800 39,200  
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued 11,800 14,300 11,200  
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense (2,500) $ 2,800 $ 1,700  
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit 20,800      
Tax Credit Carryforward, Amount 5,400      
Operating Loss Carryforwards $ 40,000      
Effective Income Tax Rate Reconciliation, Equity in Earnings (Losses) of Unconsolidated Subsidiary, Percent 22.00% 22.00%    
Operating lease obligations [Member]        
Income Taxes [Line Items]        
Other $ (46,600) $ (49,300)    
Foreign Tax Authority [Member]        
Income Taxes [Line Items]        
Deductions 1,800      
Operating Loss Carryforward With No Expiration Date $ 107,100      
Domestic Tax Authority [Member]        
Income Taxes [Line Items]        
Other reconciling items 8.90% 10.20% 10.30%  
State and Local Jurisdiction [Member]        
Income Taxes [Line Items]        
Tax Credit Carryforward, Amount $ 38,100      
Operating Loss Carryforwards 94,200      
8888 Foreign Governments [Member]        
Income Taxes [Line Items]        
Operating Loss Carryforwards 297,400      
Including accrued interest and penalties [Member]        
Income Taxes [Line Items]        
Other 1,600      
Unrecognized tax benefits period end 73,600      
Net of prepaid taxes [Member]        
Income Taxes [Line Items]        
Unrecognized tax benefits period end 58,300      
Operating lease assets [Member]        
Income Taxes [Line Items]        
Deferred Tax Liabilities, Leasing Arrangements $ 44,500 $ 46,800    
v3.22.0.1
7. Stockholders' Equity (Details) - shares
shares in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Common Class A [Member]        
Class of Stock [Line Items]        
Shares, Issued 25,134 25,073 24,966 24,884
Stock Issued During Period, Shares, Conversion of Convertible Securities (16) (32) (24)  
Stock Issued During Period, Shares, New Issues 45 75 58  
Common Stock, Voting Rights 0.1      
Election Percentage for Board of Directors 25.00%      
Common Class B [Member]        
Class of Stock [Line Items]        
Shares, Issued 5,078 5,076 5,090 5,096
Stock Issued During Period, Shares, Conversion of Convertible Securities (16) (32) (24)  
Stock Issued During Period, Shares, New Issues 18 18 18  
Common Stock, Voting Rights one      
v3.22.0.1
7. Stockholders' Equity Treasury Shares (Details) - USD ($)
$ / shares in Units, $ in Millions
 1 Months Ended 12 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Nov. 30, 2019
Aug. 31, 2019
Jun. 30, 2019
May 31, 2019
Dec. 31, 2021
Dec. 31, 2020
Jun. 30, 2021
Equity, Class of Treasury Stock [Line Items]                  
Treasury Stock, Shares 663,083 573,577 281,636 259,293   218,571     244,548
Stock Repurchase Program, Remaining Authorized Repurchase Amount $ 223.1 $ 73.1 $ 173.1 $ 181.1   $ 193.7 $ 223.1   $ 186.1
Stock Repurchase Program, Authorized Amount             $ 200.0    
Treasury Stock, Shares, Acquired 89,506 291,941 22,343 14,745 25,977 25,421      
Treasury Stock Acquired, Average Cost Per Share $ 558.60 $ 342.55 $ 358.04 $ 339.05 $ 292.01 $ 291.70      
Treasury Class-A [Member]                  
Equity, Class of Treasury Stock [Line Items]                  
Stock Issued During Period, Shares, Treasury Stock Reissued             (114,711) (117,423)  
v3.22.0.1
8. Accumulated Other Comprehensive Income (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Accumulated other comprehensive (loss) income $ (175,553) $ 282,456  
Other comprehensive income, net of tax (458,009) 369,804 $ (40,390)
Foreign currency translation adjustments [Member]      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Accumulated other comprehensive (loss) income (170,500) 298,600 (72,400)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax (469,500) 371,900  
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax 0 0  
Other Comprehensive Income (Loss), Tax 400 (900)  
Other comprehensive income, net of tax (469,100) 371,000  
Other Postretirement Benefit Plan [Member]      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Accumulated other comprehensive (loss) income (10,900) (26,000) (22,200)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax 17,900 (5,300)  
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax 300 300  
Other Comprehensive Income (Loss), Tax (3,100) 1,200  
Other comprehensive income, net of tax 15,100 (3,800)  
Net Unrealized Investment Gain (Loss) [Member]      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Accumulated other comprehensive (loss) income 5,800 9,800 7,200
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax (4,000) 4,000  
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax (1,200) (600)  
Other Comprehensive Income (Loss), Tax 1,200 (800)  
Other comprehensive income, net of tax (4,000) 2,600  
Parent [Member]      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Accumulated other comprehensive (loss) income (175,600) 282,400 $ (87,400)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax (455,600) 370,600  
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax (900) (300)  
Other Comprehensive Income (Loss), Tax (1,500) (500)  
Other comprehensive income, net of tax $ (458,000) $ 369,800  
v3.22.0.1
8. Accumulated Other Comprehensive Income Reclassification out of Accumulated Other Comprehensive Income (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Selling, general and administrative expense $ (879,574) $ (800,267) $ (824,625)
Realized Investment Gains (Losses) $ 8,000 $ 1,000 $ 1,500
v3.22.0.1
9. Share-based Compensation (Details) - USD ($)
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based Payment Arrangement, Exercise of Option, Tax Benefit $ 18,500,000 $ 11,200,000 $ 5,400,000
Share-based Compensation Expense 51,200,000 41,600,000 35,600,000
Share-based Payment Arrangement, Expense, Tax Benefit 7,400,000 6,000,000 5,600,000
Research and Development Expense [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based Compensation Expense 8,300,000 6,400,000 4,800,000
cost of goods sold [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based Compensation Expense 4,900,000 3,400,000 2,900,000
Selling, General and Administrative Expenses [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based Compensation Expense $ 38,000,000.0 $ 31,800,000 27,900,000
2011 Employee Stock Purchase Plan [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Number of Shares Authorized 1,300,000    
Stock Option and Award Plans [Member] | Incentive Award Plan 2017 [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Number of Shares Authorized 2,108,724    
Number of Shares Available for Grant 1,377,044    
Stock Options [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Weighted Average Remaining Contractual Term (in years) - Outstanding 4 years 3 months 21 days    
Aggregate Intrinsic Value (in millions) - Outstanding $ 128.5    
Options - Weighted-Average Exercise Price $ 246.41 $ 196.29  
Options Granted - Weighted Average Exercise Price 814.95    
Options Exercised - Weighted Average Exercise Price $ 144.01    
Options Granted Term 10    
Options Forfeitured/expired - Weighted Average Exercise Price $ 0    
Options - Shares Vested and Expected to Vest 64,101    
Options Vested and Expected to Vest - Weighted Average Exercise Price $ 493.51    
Options Vested and Expected to Vest - Weighted Average Remaining Contractual Term (in years) 7 years 7 months 2 days    
Options Vested and Expected to Vest - Aggregate Intrinsic Value (in millions) $ 17.7    
Weighted Average Exercise Price - Options Exercisable $ 161.41    
Weighted Average Remaining Contractual Term (in years) - Exercisable 3 years 2 months 4 days    
Options Exercisable Aggregate Intrinsic Value (in millions) $ 110.7    
Options, Exercises in Period, Total Intrinsic Value 33,000,000 $ 24,400,000 11,500,000
Cash Received from Exercise of Stock Options 3,600,000 $ 3,800,000 $ 2,600,000
Total unrecognized compensation cost from stock options $ 8,500,000    
Options Number Exercisable 186,340    
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage 25.00% 20.00%  
Weighted average fair value of options granted, period for recognition 3 years    
Expected Volatility 27.00% 27.00% 22.00%
Risk Free Interest Rate 1.05% 0.31% 1.69%
Expected life (in years) 7 years 3 months 18 days 7 years 4 months 24 days 7 years 6 months
Expected dividend $ 0 $ 0 $ 0
Weighted average fair value of options granted $ 251.93 $ 153.32 $ 93.96
Expected dividend yield 0.00%    
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]      
Outstanding beginning of period 285,123    
Options - Shares Granted 16,004    
Options - Shares Exercised (50,686)    
Options - Shares Forfeitures/expired 0    
Outstanding end of period 250,441 285,123  
Employee Stock [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Number of Shares Available for Grant 520,344    
Cash Received from Exercise of Stock Options $ 17,000,000 $ 16,400,000 $ 14,300,000
Stock Issued During Period, Shares, Employee Stock Purchase Plans 31,639 47,548 58,717
Employee Contribution Rate - Maximum 10.00%    
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Contribution Amount $ 25,000    
Employee Purchase Price Discount from Market Price 85.00%    
Expected Volatility 25.00% 41.00% 31.00%
Risk Free Interest Rate 0.05% 0.50% 2.25%
Expected life (in years) 3 months 3 months 3 months
Expected dividend $ 0 $ 0 $ 0
Expected dividend yield 0.00%    
Share-based Compensation Arrangement by Share-based Payment Award, Per Share Weighted Average Price of Shares Purchased $ 127.16 $ 94.93 $ 60.39
v3.22.0.1
9. Share-based Compensation Restricted Stock (Details) - Treasury Class-A [Member] - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value $ 104.4 $ 65.0 $ 44.8
Total unrecognized compensation cost from restricted stock $ 139.7    
Nonvested shares - Weighted Average Grant Date Fair Value $ 495.57 $ 360.90  
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]      
Outstanding beginning of period 386,363    
Restricted Stock Units Granted 85,541    
Restricted Stock Units - Vested (128,092)    
Restricted Stock Units - Forfeited (26,952)    
Outstanding end of period 316,860 386,363  
Weighted Average Grant Date Fair Value - Granted $ 810.51    
Restricted Stock Units Vested - Weighted-Average Grant-Date Fair Value 319.38    
Resticted Stock Units Cancelled/forfeited - Weighted-Average Grant-Date Fair Value $ 401.99    
Weighted Average Remaining Contractual Term (in years) 1 year 7 months 24 days    
Resticted Stock Units Outstanding Aggregate Intrinsic Value (in millions) $ 239.4    
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition 3 years    
v3.22.0.1
10. Other Income and Expenses (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Interest and investment income $ (18,900) $ (18,200) $ (30,500)
Realized Investment Gains (Losses) (8,000) (1,000) (1,500)
Equity Method Investment, Other than Temporary Impairment 800 4,600 5,800
Gain on divestiture of division 0 (11,700) 0
Other Expense (700) (1,800) (100)
Other income, net $ (26,775) $ (24,488) $ (26,094)
v3.22.0.1
11. Supplemental Cash Flow Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2021
Sep. 30, 2021
Jun. 30, 2021
Mar. 31, 2021
Dec. 31, 2020
Sep. 30, 2020
Jun. 30, 2020
Mar. 31, 2020
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Other Significant Noncash Transactions [Line Items]                      
Net income $ (1,573,700) $ 3,928,000 $ 914,100 $ 977,400 $ 839,200 $ 1,314,800 $ 966,400 $ 685,900 $ 4,245,902 $ 3,806,267 $ 1,758,675
Depreciation and amortization                 133,800 138,100 134,200
Reduction in the carrying amount of right-of-use assets                 39,300 37,100 40,300
Share-based compensation                 51,200 41,600 35,600
Other than Temporary Impairment Losses on Investments                 800 4,600 5,800
Changes in fair market value of equity securities                 (4,926,200) (4,495,800) (2,031,000)
Gain on divestiture of a division             $ 11,700   0 (11,700) 0
Payments for operating lease liabilities                 (40,700) (36,500) (38,600)
(Increase) decrease in accounts receivable, net                 (20,400) (15,000) 1,600
(Increase) decrease in inventories, net                 46,100 (52,100) 24,200
(Increase) decrease in Other Current Assets                 (12,200) (8,400) 61,800
Increase (decrease) in accounts payable and other current liabilities                 69,900 124,700 10,600
Increase (decrease) in Income Taxes Payable                 (28,800) 39,000 (4,200)
Increase in deferred income taxes                 1,082,300 978,900 450,200
(Increase) decrease in other long term assets                 (5,200) (6,400) (1,700)
Increase (Decrease) in Other Noncurrent Liabilities                 10,500 26,900 13,400
Other                 10,200 4,000 (3,000)
Net cash provided by operating activities                 656,521 575,328 457,897
Noncash purchased property, plant and equipment                 5,200 1,200 8,100
Noncash Purchased Marketable Securities and Investments                 6,000 4,600 1,400
Noncash or Part Noncash Acquisition, Accounts Receivable Acquired                 $ 0 $ 0 $ 1,300
v3.22.0.1
12. Commitments & Contingent Liabilities (Details) - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Purchase Commitment, Excluding Long-term Commitment [Line Items]    
Post-Employment Benefits Liability $ 3.5 $ 4.1
Recorded Unconditional Purchase Obligation 124.8  
Recorded Unconditional Purchase Obligation Due in Next Twelve Months 10.7  
Recorded Unconditional Purchase Obligation Due in Second Year 14.4  
Recorded Unconditional Purchase Obligation Due in Third Year 7.4  
Recorded Unconditional Purchase Obligation Due in Fourth Year 5.2  
Recorded Unconditional Purchase Obligation Due in Fifth Year 3.8  
Recorded Unconditional Purchase Obligation Due after Fifth Year 83.3  
Unrecorded Unconditional Purchase Obligation 16.7  
Unrecorded Unconditional Purchase Obligation, Due in Twelve Months 12.2  
Unrecorded Unconditional Purchase Obligation, Due within Two Years 3.2  
Unrecorded Unconditional Purchase Obligation, Due within Three Years 1.1  
Unrecorded Unconditional Purchase Obligation, Due within Four Years 0.2  
Unrecorded Unconditional Purchase Obligation, Due within Five Years 0.0  
Unrecorded Unconditional Purchase Obligation, Due after Five Years 0.0  
Letters of Credit Outstanding Amount $ 4.7  
Employees Covered By Collective Bargaining Agreements U.S., Percentage 7.00%  
Defined Benefit Plan, Accumulated Benefit Obligation $ 142.1 159.5
Deferred Compensation Cash-based Arrangements, Liability, Current 3.8 3.0
Defined Benefit Plan, Pension Plan with Projected Benefit Obligation in Excess of Plan Assets, Plan Assets $ 62.7 $ 78.1
UNITED STATES    
Purchase Commitment, Excluding Long-term Commitment [Line Items]    
Entity Number of Employees 3,250  
v3.22.0.1
12. Commitments & Contingent Liabilities Period Expense (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]      
Contribution expense $ 18.4 $ 10.6 $ 16.1
v3.22.0.1
12. Commitments & Contingent Liabilities Pensions (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate 0.30% 0.50% 1.10%
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate 0.60% 0.30%  
Defined Benefit Plan, Benefit Obligation $ 155.5 $ 177.5 $ 153.8
Defined Benefit Plan, Service Cost 8.0 7.8 6.9
Defined Benefit Plan, Interest Cost 0.5 0.8 1.5
Defined Benefit Plan, Benefit Obligation, Contributions by Plan Participant 3.2 4.1  
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss) (10.2) 5.3  
Defined Benefit Plan, Benefit Obligation, Benefits Paid (0.7) (1.7)  
Defined Benefit Plan, Benefit Obligation, Increase (Decrease) for Plan Amendment (1.7) 0.0  
Defined Benefit Plan, Benefit Obligation, (Increase) Decrease for Curtailment (3.3) 0.0  
Defined Benefit Plan, Benefit Obligation, (Increase) Decrease for Settlement (9.5) (6.4)  
Defined Benefit Plan, Benefit Obligation, Foreign Currency Translation Gain (Loss) (8.3) 13.8  
Defined Benefit Plan, Plan Assets, Amount 79.4 81.4 72.3
Defined Benefit Plan, Plan Assets, Increase (Decrease) for Actual Return (Loss) 1.3 0.6  
Defined Benefit Plan, Plan Assets, Contributions by Employer 4.3 4.1  
Defined Benefit Plan, Plan Assets, Contributions by Plan Participant 3.2 4.0  
Defined Benefit Plan, Plan Assets, Benefits Paid 1.3 0.2  
Defined Benefit Plan, Plan Assets, Payment for Settlement (9.5) (6.4)  
Defined Benefit Plan, Plan Assets, Foreign Currency Translation Gain (Loss) (2.6) 6.6  
Defined Benefit Plan, Funded (Unfunded) Status of Plan (76.1) (96.1)  
Liability, Defined Benefit Plan, Current (2.3) (1.3)  
Liability, Defined Benefit Plan, Noncurrent (73.8) (94.8)  
Liability, Defined Benefit Plan (76.1) (96.1)  
Defined Benefit Plan, Expected Return (Loss) on Plan Assets (1.0) (0.7) (1.2)
Defined Benefit Plan, Amortization of Gain (Loss) 1.8 1.3 1.0
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Curtailment (1.9) 0.0 0.0
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement 1.2 1.3 0.9
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) $ 8.6 $ 10.5 $ 9.1
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase 1.50% 1.70%  
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets 1.10% 1.50% 1.80%
Defined Benefit Plan, Accumulated Benefit Obligation $ 142.1 $ 159.5  
v3.22.0.1
14. Segment Reporting (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Segment Reporting Information [Line Items]      
Number Of Products And Services 12,000    
Net sales $ 2,922,500 $ 2,545,600 $ 2,311,700
Interest expense 1,551 21,861 23,416
Depreciation and amortization 133,800 138,100 134,200
Segment profit 489,430 410,957 229,661
Total assets 17,775,795 12,972,618  
Payments to Acquire Property, Plant, and Equipment 120,803 98,920 98,532
Life Science [Member]      
Segment Reporting Information [Line Items]      
Net sales 1,400,800 1,231,800 885,900
Interest expense 600 8,000 7,400
Depreciation and amortization 32,500 32,800 29,400
Segment profit 316,000 271,800 72,100
Total assets 588,200 607,300  
Payments to Acquire Property, Plant, and Equipment 12,800 16,800  
Clinical Diagnostics [Member]      
Segment Reporting Information [Line Items]      
Net sales 1,515,900 1,305,200 1,412,000
Interest expense 1,000 13,800 15,900
Depreciation and amortization 61,100 65,100 71,700
Segment profit 173,000 117,000 148,500
Total assets 1,038,400 1,065,600  
Payments to Acquire Property, Plant, and Equipment 63,500 43,600  
All Other Segments [Member]      
Segment Reporting Information [Line Items]      
Net sales 5,800 8,600 13,800
Interest expense 0 100 100
Depreciation and amortization 1,600 1,000 900
Segment profit (1,100) 300 $ (1,500)
Total assets 16,800 9,500  
Payments to Acquire Property, Plant, and Equipment $ 7,600 $ 3,100  
v3.22.0.1
14. Segment Information Segment Profit Reconciliation (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Goodwill, Impairment Loss $ 0.0 $ 0.0  
Operating Segments [Member]      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Income before income taxes 487.9 389.1 $ 206.2
Foreign Currency Gain (Loss) [Member] | Segment Reconciling Items [Member]      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Income before income taxes (2.8) (1.8) (2.2)
Other Nonoperating Income (Expense) [Member] | Segment Reconciling Items [Member]      
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]      
Income before income taxes $ 26.8 $ 24.5 $ 26.1
v3.22.0.1
14. Segment Information Segment Asset Reconciliation (Details) - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Segment Reporting, Asset Reconciling Item [Line Items]    
Total assets $ 17,775,795 $ 12,972,618
Operating Segments [Member]    
Segment Reporting, Asset Reconciling Item [Line Items]    
Total assets 1,643,400 1,682,400
Other Current Assets [Member] | Segment Reconciling Items [Member]    
Segment Reporting, Asset Reconciling Item [Line Items]    
Total assets 993,300 1,098,200
Property, Plant and Equipment and Operating lease right-of-use assets excluding segment specific [Member] | Segment Reconciling Items [Member]    
Segment Reporting, Asset Reconciling Item [Line Items]    
Total assets 48,200 52,700
Goodwill [Member] | Segment Reconciling Items [Member]    
Segment Reporting, Asset Reconciling Item [Line Items]    
Total assets 347,300 291,900
Other Noncurrent Assets [Member] | Segment Reconciling Items [Member]    
Segment Reporting, Asset Reconciling Item [Line Items]    
Total assets $ 14,743,600 $ 9,847,400
v3.22.0.1
14. Segment Information Segment Information by Geographical Location (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Segment Reporting Information [Line Items]      
Net sales $ 2,922.5 $ 2,545.6 $ 2,311.7
Other assets, property, plant and equipment, net and Operating lease right-of-use assets 749.3 728.3  
Europe [Member]      
Segment Reporting Information [Line Items]      
Net sales 946.9 857.7 770.3
Other assets, property, plant and equipment, net and Operating lease right-of-use assets 211.4 208.6  
Asia [Member]      
Segment Reporting Information [Line Items]      
Net sales 688.4 546.5 505.0
Other assets, property, plant and equipment, net and Operating lease right-of-use assets 64.9 53.3  
UNITED STATES      
Segment Reporting Information [Line Items]      
Net sales 1,130.6 1,004.8 899.1
Other assets, property, plant and equipment, net and Operating lease right-of-use assets 456.5 454.4  
Other (primarily Canada and Latin America) [Member]      
Segment Reporting Information [Line Items]      
Net sales 156.6 136.6 $ 137.3
Other assets, property, plant and equipment, net and Operating lease right-of-use assets $ 16.5 $ 12.0  
v3.22.0.1
15. Restructuring Costs (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Restructuring Cost and Reserve [Line Items]    
Restructuring Reserve, Accrual Adjustment $ (11.2)  
Restructuring Charges 75.6  
Restructuring Reserve 47.1 $ 0.0
Payments for Restructuring (14.2)  
Restructuring Reserve, Foreign Currency Translation (Gain) Loss (3.1)  
Selling, General and Administrative Expenses [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring Charges 26.1  
Research and Development Expense [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring Charges 13.3  
cost of goods sold [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring Charges 25.0  
Life Science [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring Reserve, Accrual Adjustment (3.3)  
Restructuring Charges 12.9  
Restructuring Reserve 5.2 0.0
Payments for Restructuring (4.0)  
Restructuring Reserve, Foreign Currency Translation (Gain) Loss (0.4)  
Clinical Diagnostics [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring Reserve, Accrual Adjustment (7.9)  
Restructuring Charges 62.7  
Restructuring Reserve 41.9 $ 0.0
Payments for Restructuring (10.2)  
Restructuring Reserve, Foreign Currency Translation (Gain) Loss (2.7)  
Accounts Payable and Accrued Liabilities [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring Reserve 46.7  
Other Noncurrent Liabilities [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring Reserve $ 0.4  
v3.22.0.1
16. Leases (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Lessee, Lease, Description [Line Items]      
Deferred Tax Assets, Other $ 64,800 $ 44,800  
U.S. 2,930,800 $ 2,339,700 $ 1,034,000
Lessee, Operating Lease, Liability, Payments, Remainder of Fiscal Year 42,500    
Finance Lease, Liability, Payments, Remainder of Fiscal Year $ 1,200    
Operating Lease, Weighted Average Remaining Lease Term 8 years 8 years  
Operating Lease, Right-of-Use Asset $ 204,798 $ 202,136  
Operating Lease, Payments 40,700 44,400 47,200
Operating Lease, Cost 53,200 45,400 51,400
Finance Lease, Right-of-Use Asset, Amortization 500 600 600
Finance Lease, Interest Expense 800 800 900
Finance Lease Cost 1,300 1,400 1,500
Sublease Income 3,000 3,000 3,000
Finance Lease, Interest Payment on Liability 500 600 900
Finance Lease, Principal Payments 800 800 600
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability 45,500 16,100 28,700
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability 0 400 $ 200
Current operating lease liabilities 36,435 36,507  
Operating lease liabilities 175,938 175,128  
Current maturities of long-term debt and notes payable 500 500  
Finance Lease, Liability, Noncurrent 10,500 11,000  
Operating Lease, Liability $ 212,300 $ 211,600  
Finance Lease, Weighted Average Remaining Lease Term 15 years 6 months 16 years  
Operating Lease, Weighted Average Discount Rate, Percent 3.30% 3.90%  
Finance Lease, Weighted Average Discount Rate, Percent 6.30% 6.20%  
Lessee, Operating Lease, Liability, Payments, Due Year Two $ 39,100    
Finance Lease, Liability, Payments, Due Year Two 1,100    
Lessee, Operating Lease, Liability, Payments, Due Year Three 32,600    
Finance Lease, Liability, Payments, Due Year Three 1,200    
Lessee, Operating Lease, Liability, Payments, Due Year Four 29,100    
Finance Lease, Liability, Payments, Due Year Four 1,100    
Lessee, Operating Lease, Liability, Payments, Due Year Five 24,000    
Finance Lease, Liability, Payments, Due Year Five 1,100    
Lessee, Operating Lease, Liability, Payments, Due after Year Five 79,500    
Finance Lease, Liability, Payments, Due after Year Five 13,000    
Lessee, Operating Lease, Liability, Payments, Due 246,800    
Finance Lease, Liability, Payment, Due 18,700    
Lessee, Operating Lease, Liability, Undiscounted Excess Amount (34,500)    
Finance Lease, Liability, Undiscounted Excess Amount (7,700)    
Finance Lease, Liability $ 11,000 $ 11,500  
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Current maturities of long-term debt Current maturities of long-term debt  
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Long-term Debt and Lease Obligation Long-term Debt and Lease Obligation  
Property, Plant and Equipment      
Lessee, Lease, Description [Line Items]      
Finance Lease, Right-of-Use Asset, before Accumulated Amortization $ 11,800 $ 12,200  
accumulated depreciation and amortization      
Lessee, Lease, Description [Line Items]      
Finance Lease, Right-of-Use Asset, Accumulated Amortization 5,100 5,000  
Property, Plant and Equipment, Net      
Lessee, Lease, Description [Line Items]      
Finance Lease, Right-of-Use Asset, after Accumulated Amortization, Total $ 6,700 $ 7,200  
Maximum [Member]      
Lessee, Lease, Description [Line Items]      
Lessee Operating And Finance Leases Remaining Lease Term 17 years    
Minimum [Member]      
Lessee, Lease, Description [Line Items]      
Lessee Operating And Finance Leases Remaining Lease Term 1 year    
v3.22.0.1
18. Subsequent Event (Details)
 12 Months Ended
Dec. 31, 2021
Subsequent Event [Line Items]  
Auditor Name KPMG LLP
Auditor Firm ID 185
Auditor Location Santa Clara, California.